During the recent Permissionless II conference, U.S. Representative Tom Emmer highlighted the promising trajectory of cryptocurrency policy in the United States, emphasizing the potential role of blockchain technology in authenticating artificial intelligence (AI) outputs.
A New Dawn for Crypto Policy
Rep. Emmer expressed optimism about the future of crypto, pointing to recent court victories for Ripple and Grayscale, albeit noting that these are still subject to appeal. He also touched upon an upcoming U.S. Supreme Court ruling that could potentially redefine the administrative state’s role, referring to the Loper Bright Enterprises v. Raimondo case that challenges the Chevron deference doctrine established in 1984.
Blockchain as AI Authenticator
During the conference, Emmer urged the crypto community to focus on innovation, particularly through AI. He suggested that blockchain technology could serve as an authenticator to distinguish real phenomena from AI-generated ones. This approach, he believes, could help in addressing Congress’s concerns about distinguishing between what’s real and what’s false, emphasizing that digital assets technology could be the solution.
Shifting Focus to Innovation
Rep. Emmer criticized the undue focus on FTX, stating that it has distracted everyone from the innovation and success in the crypto space. He urged the community to shift the narrative back to the advancements and what it means for individuals.
Emmer, a co-sponsor of the Financial Innovation and Technology for the 21st Century Act and the SEC Stabilization Act, highlighted the need for raising awareness in Congress and presenting solutions. He noted that while more members of Congress are educating themselves about the crypto industry, there is still a way to go.
As the crypto industry navigates regulatory landscapes, the emphasis on innovation, particularly leveraging blockchain technology to authenticate AI, presents a fresh narrative. Rep. Emmer’s insights underscore the need for a collaborative approach, fostering awareness and education to drive forward in a space brimming with potential.