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Microsoft Calls for a New US Agency and Licensing for AI
May 26, 2023
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  • President Brad Smith outlines company policy in Washington
  • Microsoft offers several AI products, pressuring competitors
Microsoft Corp. is calling for a new US agency to regulate artificial intelligence and licensing requirements to operate the most powerful AI tools, company President Brad Smith said Thursday. 
 
Smith compared AI to the printing press, elevators and food safety for both the transformative power of a new technology and the regulatory need to protect against the greatest potential harms. His call for a new agency echoes proposals from OpenAI, the startup behind the wildly popular ChatGPT, which received a $10 billion investment from Microsoft. 
 
“We would benefit from a new agency,” Smith said in a speech in Washington. “That is how we will ensure that humanity remains in control of technology.”
 
The idea for a government agency with responsibility to set the ground rules for AI gained attention last week in a Senate hearing with Sam Altman, chief executive officer of OpenAI. Altman and many of the senators questioning him agreed that the legislative process is too slow and partisan to keep pace with AI capabilities and potential applications, and an agency would be better-positioned to set rules to protect users.
 
Although that proposal has sparked conversations on Capitol Hill, it is still far from being turned into legislation. Calls in recent years to regulate social media went nowhere in Congress.
 
Smith also said that rapidly developing AI technology must be transparent, with developers partnering with government and academic researchers to address societal challenges that will emerge. He proposed “safety brakes” for AI technology used in high-risk applications such as critical infrastructure. 
“New laws would require operators of these systems to build safety brakes into high-risk AI systems by design,” Smith said in a blog post accompanying his speech. “The government would then ensure that operators test high-risk systems regularly to ensure that the system safety measures are effective.”
 
The Biden administration has released several non-binding guides for developing and using AI products, although the US lags far behind Europe’s regulatory efforts. The EU’s AI Act was in the final stages of debate when the release of ChatGPT and other generative AI applications cast doubt on rules that focus on how the technology is used, rather than how it is initially developed.
 

European Conflict

Altman told reporters in London Wednesday that OpenAI could pull its products from Europe if it can’t comply with new rules that have been proposed for general-purpose AI. In a tweet Thursday, EU Commissioner Thierry Breton accused Altman of “attempting blackmail.”
 
Asked about Altman’s threat, Smith said it’s important for the tech industry to explain how proposed regulation would work in practice. He said he’s optimistic that “reason will prevail” in the final version of Europe’s AI Act.
 
“The legislative process in every democratic country inevitably has its twist and turns,” Smith said in Washington after his speech. “There are days when those of us who might know more about a technical field get up and see something that we quite rightly would want to point out is not likely to work the way that people who wrote it actually intended.”
 
US tech companies have praised a framework released in January by the National Institute of Standards and Technology, which is focused on how AI technology is used — and the risk level of that application — rather than how it’s developed. Smith held that model up in his speech as  a “new intellectual discipline for artificial intelligence” to help measure and manage this technology. 
Smith’s speech was attended by several members of Congress. When Democratic Representative Ritchie Torres of New York asked how Congress should balance regulation with innovating to keep ahead of China, Smith urged western democracies to stick together to set a global standard for AI regulation.
 
“I do share the concern that there may be other parts of the world that don’t adopt the same kinds of guardrails that we do,” Smith said. “It’s so important to bring the European Union and the United Kingdom and the United States and other countries together to say, here is a model, here is a model that not only promotes innovation but protects people, protects humanity, preserves fundamental rights.”
 
Microsoft’s push into artificial intelligence, including its support for OpenAI, has pressured competitors such as Alphabet Inc.’s Google to more quickly release their own AI applications and integrate the technology into existing products. Last week, Google published its own policy recommendations for responsible development of AI that it said would take advantage of its economic potential while curbing some of the risks to society.
 

 

 

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🚀 Bitcoin Hits New All-Time High – What’s Next?

Bitcoin reached a new peak of $118,254 on July 11, 2025, driven by institutional demand, favorable macro conditions, and supportive crypto regulations. With a 100%+ year-over-year surge, what's next for BTC?

🔮 Bitcoin Outlook

📆 Short Term (6–12 Months)

  • Expect volatility post-ATH
  • Spot BTC ETFs attract significant capital
  • Potential range: $95K–$135K

🕰 Medium Term (1–3 Years)

  • 2024 halving impact continues
  • More institutions may adopt BTC as reserve/collateral
  • Global regulatory clarity boosts confidence
  • Potential range: $120K–$200K+

🌐 Long Term (5–10+ Years)

  • BTC may solidify as digital gold
  • Used in cross-border settlements and emerging markets
  • Scarcity (21M cap) drives value
  • Bullish case: $250K–$1M+
  • Bearish case: $20K–$50K (if tech/regulatory risks rise)

📌 Key Drivers

  • Institutional adoption
  • Spot ETF flows
  • Crypto regulations
  • Fed interest rate policy
  • Lightning Network & Layer 2 scaling
  • Geopolitical uncertainty

💬 TL;DR:
Bitcoin’s $118K breakout ...

00:00:07
Ripple CEO on partnership with BNY to serve as custodian of stablecoin
00:01:12
Brad Garlinghouse In Washington 🚀

It’s time for a fair and open level playing field.

Under Gary Gensler it was quite the opposite.

  • Brad Garlinghouse
    July 9, 2025
00:01:56
👉 Coinbase just launched an AI agent for Crypto Trading

Custom AI assistants that print money in your sleep? 🔜

The future of Crypto x AI is about to go crazy.

👉 Here’s what you need to know:

💠 'Based Agent' enables creation of custom AI agents
💠 Users set up personalized agents in < 3 minutes
💠 Equipped w/ crypto wallet and on-chain functions
💠 Capable of completing trades, swaps, and staking
💠 Integrates with Coinbase’s SDK, OpenAI, & Replit

👉 What this means for the future of Crypto:

1. Open Access: Democratized access to advanced trading
2. Automated Txns: Complex trades + streamlined on-chain activity
3. AI Dominance: Est ~80% of crypto 👉txns done by AI agents by 2025

🚨 I personally wouldn't bet against Brian Armstrong and Jesse Pollak.

👉 Coinbase just launched an AI agent for Crypto Trading
🚨 BREAKING NEWS: Ripple National Trust Bank! 🏦 🇺🇸

Ripple has officially filed an application to become a national trust bank, aiming to launch what would be called Ripple National Trust Bank.

This move is designed to bring Ripple’s crypto and stablecoin operations under direct federal regulation and marks a major step toward mainstream integration with the U.S. financial system.

🤔 What This Means:

🔹 If approved by the Office of the Comptroller of the Currency (OCC), Ripple would be able to operate nationwide under federal oversight, expanding its crypto services and allowing it to settle payments faster and more efficiently—without relying on intermediary banks.

🔹 Ripple’s RLUSD stablecoin would be regulated at both the state and federal level, setting a new benchmark for transparency and compliance in the stablecoin market.

🔹 Ripple has also applied for a Federal Reserve master account, which would let it hold reserves directly at the Fed and issue or redeem stablecoins outside normal banking hours, further strengthening ...

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PERSISTENCE Q2 SUMMARY & WHATS TO COME IN Q3 👀

Q2’25 was a significant one as we laid the groundwork for multiple initiatives on our orange-themed road to BTCFi 🛣️🧡

From being one of the first DEXs to deploy on Babylon, to going live with the beta-mainnet & onboarding new Persisters.

Read more 👉 https://blog.persistence.one/2025/07/10/persistence-one-a-look-back-on-q2-2025-and-an-overview-of-whats-to-come-in-q3/

BTC Interop beta mainnet is back 🧡
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Musk Turns On Starlink to Save Iranians from Regime’s Internet Crackdown

Elon Musk, the world’s richest man and a visionary behind SpaceX, has flipped the switch on Starlink, delivering internet to Iranians amid a brutal regime crackdown.

This move comes on the heels of Israeli strikes targeting Iran’s nuclear facilities, as the Islamic Republic cuts off online access.

The former Department of Government Efficiency chief activated Starlink satellite internet service for Iranians on Saturday following the Islamic Republic's decision to impose nationwide internet restrictions.

As the Jerusalem Post reports, that the Islamic Republic’s Communications Ministry announced the move, stating, "In view of the special conditions of the country, temporary restrictions have been imposed on the country’s internet."

This action followed a series of Israeli attacks on Iranian targets.

Starlink, a SpaceX-developed satellite constellation, provides high-speed internet to regions with limited connectivity, such as remote areas or conflict zones.

Elizabeth MacDonald, a Fox News contributor, highlighted its impact, noting, "Elon Musk turning on Starlink for Iran in 2022 was a game changer. Starlink connects directly to SpaceX satellites, bypassing Iran’s ground infrastructure. That means even during government-imposed shutdowns or censorship, users can still get online, and reportedly more than 100,000 inside Iran are doing that."

During the 2022 "Woman, Life, Freedom" protests, Starlink enabled Iranians to communicate and share footage globally despite network blackouts," she added.

MacDonald also mentioned ongoing tests of "direct-to-cell" capabilities, which could allow smartphone connections without a dish, potentially expanding access and supporting free expression and protest coordination.

Musk confirmed the activation, noting on Saturday, "The beams are on."

This follows the regime’s internet shutdowns, which were triggered by Israeli military actions.

Adding to the tension, Israeli Prime Minister Benjamin Netanyahu addressed the Iranian people on Friday, urging resistance against the regime.

"Israel's fight is not against the Iranian people. Our fight is against the murderous Islamic regime that oppresses and impoverishes you,” he said.

Meanwhile, Reza Pahlavi, the exiled son of Iran’s last monarch, called on military and security forces to abandon the regime, accusing Supreme Leader Ayatollah Ali Khamenei in a Persian-language social media post of forcing Iranians into an unwanted war.

Starlink has been a beacon in other crises. Beyond Iran, Musk has leveraged Starlink to assist people during natural disasters and conflicts.

In the wake of hurricanes and earthquakes, Starlink has provided critical internet access to affected communities, enabling emergency communications and coordination.

Similarly, during the Ukraine-Russia conflict, Musk activated Starlink to support Ukrainian forces and civilians, ensuring they could maintain contact and access vital information under dire circumstances.

The genius entrepreneur, is throwing a lifeline to the oppressed in Iran, and the libs can’t stand it.

Conservative talk show host Mark Levin praised Musk’s action, reposting a message stating that Starlink would "reconnect the Iranian people with the internet and put the final nail in the coffin of the Iranian regime."

"God bless you, Elon. The Starlink beams are on in Iran!" Levin wrote.

Musk, who recently stepped down from leading the DOGE in the Trump administration, has apologized to President Trump for past criticisms, including his stance on the One Big Beautiful Bill.

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GENIUS Act lets State banks conduct some business nationwide. Regulators object

The Senate passed the GENIUS Act for stablecoins last week, but significant work remains before it becomes law. The House has a different bill, the STABLE Act, with notable differences that must be reconciled. State banking regulators have raised strong objections to a provision in the GENIUS Act that would allow state banks to operate nationwide without authorization from host states or a federal regulator.

The controversial clause permits a state bank with a regulated stablecoin subsidiary to provide money transmitter and custodial services in any other state. While host states can impose consumer protection laws, they cannot require the usual authorization and oversight typically needed for out-of-state banking operations.

The Conference of State Bank Supervisors welcomed some changes in the GENIUS Act but remains adamantly opposed to this particular provision. In a statement, CSBS said:

“Critical changes must be made during House consideration of the legislation to prevent unintended consequences and further mitigate financial stability risks. CSBS remains concerned with the dramatic and unsupported expansion of the authority of uninsured banks to conduct money transmission or custody activities nationwide without the approval or oversight of host state supervisors (Sec. 16(d)).”

The National Conference of State Legislatures expressed similar concerns in early June, stating:

“We urge you to oppose Section 16(d) and support state authority to regulate financial services in a manner that reflects local conditions, priorities and risk tolerances. Preserving the dual banking system and respecting state autonomy is essential to the safety, soundness and diversity of our nation’s financial sector.”

Evolution of nationwide authorization

Section 16 addresses several issues beyond stablecoins, including preventing a recurrence of the SEC’s SAB 121, which forced crypto assets held in custody onto balance sheets. However, the nationwide authorization subsection was added after the legislation cleared the Senate Banking Committee, with two significant modifications since then.

Originally, the provision applied only to special bank charters like Wyoming’s Special Purpose Depository Institutions or Connecticut’s Innovation Banks. Examples include crypto-focused Custodia Bank and crypto exchange Kraken in Wyoming, plus traditional finance player Fnality US in Connecticut. Recently the scope was expanded to cover most state chartered banks with stablecoin subsidiaries, possibly due to concerns about competitive advantages.

Simultaneously, the clause was substantially tightened. The initial version allowed state chartered banks to provide money transmission and custody services nationwide for any type of asset, which would include cryptocurrencies. Now these activities can only be conducted by the stablecoin subsidiary, and while Section 16(d) doesn’t explicitly limit services to stablecoins, the GENIUS Act currently restricts issuers to stablecoin related activities.

However, the House STABLE Act takes a more permissive approach, allowing regulators to decide which non-stablecoin activities are permitted. If the House version prevails in reconciliation, it could result in a significant expansion of allowed nationwide banking activities beyond stablecoins.

Is it that bad?

As originally drafted, the clause seemed overly permissive.

The amended clause makes sense for stablecoin issuers. They want to have a single regulator and be able to provide the stablecoin services throughout the United States. But it also leans into the perception outside of crypto that this is just another form of regulatory arbitrage.

The controversy over Section 16(d) reflects concerns about creating a regulatory gap that allows banks to operate interstate without the oversight typically required from either federal or state authorities. As the two Congressional chambers work toward reconciliation, lawmakers must decide whether stablecoin legislation should include provisions that effectively reduce traditional banking oversight requirements.

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If you find value in my content, consider showing your support via:

💳 PayPal: 
1) Simply scan the QR code below 📲
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Or Buy me a coffee: https://buymeacoffee.com/thedinarian

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Dubai regulator VARA classifies RWA issuance as licensed activity
Virtual Asset Regulatory Authority (VARA) leads global regulatory framework - makes RWA issuance licensed activity in Dubai.

Real-world assets (RWAs) issuance is now licensed activity in Dubai.

~ Actual law.
~ Not a legal gray zone.
~ Not a whitepaper fantasy.

RWA issuance and listing on secondary markets is defined under binding crypto regulation.

It’s execution by Dubai.

Irina Heaver explained:

“RWA issuance is no longer theoretical. It’s now a regulatory reality.”

VARA defined:

- RWAs are classified as Asset-Referenced Virtual Assets (ARVAs)

- Secondary market trading is permitted under VARA license

- Issuers need capital, audits, and legal disclosures

- Regulated broker-dealers and exchanges can now onboard and trade them

This closes the gap that killed STOs in 2018.

No more tokenization without venues.
No more assets without liquidity.

UAE is doing what Switzerland, Singapore, and Europe still haven’t:

Creating enforceable frameworks for RWA tokenization that actually work.

Matthew White, CEO of VARA, said it perfectly:

“Tokenization will redefine global finance in 2025.”

He’s not exaggerating.

$500B+ market predicted next year.

And the UAE just gave it legal rails.

~Real estate.
~Private credit.
~Shariah-compliant products.

Everything is in play.

This is how you turn hype into infrastructure.

What Dubai is doing now is 3 years ahead of everyone else.

Founders, investors, ecosystem builders:

You want to build real-world assets onchain.

Don’t waste another year waiting for clarity.

Come to Dubai.

It’s already here.

 

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If you find value in my content, consider showing your support via:

💳 PayPal: 
1) Simply scan the QR code below 📲
2) or visit https://www.paypal.me/thedinarian

🔗 Crypto – Support via Coinbase Wallet to: [email protected]

Or Buy me a coffee: https://buymeacoffee.com/thedinarian

Your generosity keeps this mission alive, for all! Namasté 🙏 Crypto Michael ⚡  The Dinarian

 

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