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Galaxy Digital CEO Shocked by Lack of AI Regulation While Crypto Suffers

Published 03/29/2023, 11:50 AM
Updated 03/29/2023, 12:00 PM
Galaxy Digital CEO Shocked by Lack of AI Regulation While Crypto Suffers

  • Mike Novogratz has bemoaned the differing regulatory approaches to crypto and AI.
  • The CEO fears that, left unchecked, AI-generated Deep Fakes could become prevalent.
  • Novogratz added that the regulatory backlash in the U.S. because of one man is “dumb.”
In the nascent emerging technology world, artificial intelligence (AI) has shot to prominence with the emergence of user-facing chatbots like ChatGPT. The AI sector has soared with very little limitation or regulation, while crypto is currently being subject to hardline policing and regulatory scrutiny.

Galaxy Digital CEO Mike Novogratz told investors in a shareholder update on March 28 that he believes the U.S. government has got it wrong in focusing its regulatory attention on crypto and not AI.

“Completely Upside-Down”

Crypto has been in the firing line of agencies such...

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