Bittime - New regulations proposed by the US Treasury Department to oversee investments in China, especially in silicon chips, computer processors, AI and quantum computing. The goal is to maintain national security and stop China's military technological advances.
US Creates New Regulations to Block AI Investments
The goal of the new regulations proposed by the US Treasury Department is to protect and supervise important United States investments in China. These rules primarily relate to silicon chips, computer processors, artificial intelligence (AI), and quantum computing.
This new rule is a consequence of an executive order issued by President Joe Biden. The executive order refers to countries of concern, specifically countries that have access to funds provided by the U.S. government, which are thought to increase the military, cyber, surveillance and intelligence powers of the countries concerned, according to the Associated Press.
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Biden Administration Intends to Limit Chinese AI Investments
According to the report, the Biden administration is using executive orders to halt China's technological advances. Republicans Trump and Biden are seeking to gain voters' trust by showing who can better deter China. China is not only an important US trading partner, but also a rival.
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US Doesn't Want Investors to Invest with China
The proposed rule explains what information citizens and permanent residents of the United States must provide before engaging in such deals.
Additionally, the news agency reported that an unnamed Treasury Department source stated that the regulations would prohibit US investors from investing in the People's Republic of China's artificial intelligence systems.
Sources who gave journalists a hands-on preview said that the AI system could do military things like weapons targeting and combat.
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Conclusion
The Biden administration is proposing new laws that limit US investment in high-tech industries such as computer processors, quantum computing, silicon chips and AI. This rule prohibits US investors from investing in Chinese AI systems that could be used for military purposes, to protect national security.
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DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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