Opinion: AI tokens may face the risk of double scrutiny due to the attention of the US SEC chairman

Odaily Planet Daily News US Securities and Exchange Commission (SEC) Chairman Gary Gensler said on Tuesday that he has begun to pay attention to artificial intelligence. AI is "the most transformative technology of our time," but malicious actors could use it to influence capital markets, Gensler said. Gensler tweeted, "The SEC's attitude towards technology is neutral, and we focus on the results, not the tools themselves. However, securities laws may be affected depending on how AI technology is used. Within our current remit, We are focused on protecting against the micro and macro challenges of AI." Gensler highlighted the use of artificial intelligence in new fintech tools such as robo-advisors and AI-powered brokerage apps. “AI is used in finance for account opening, compliance programs, trading algorithms, sentiment analysis, etc. He also noted that the technology could significantly improve customer targeting and narrowing, which creates more risk for consumers. "Under securities law, fraud is fraud, and the SEC's focus is on identifying and prosecuting any fraudulent conduct that could threaten investors, capital formation, or the broader market." The Block article pointed out that after the launch of ChatGPT in November 2022, many encryption companies have taken advantage of people's interest in artificial intelligence tools, and blockchain technology and artificial intelligence have merged to form an artificial intelligence cryptocurrency category. The top six AI tokens by market capitalization are The Graph, Render, Injective, Oasis Network, SingularityNET, and Fetch.ai. Gensler's statement means that artificial intelligence tokens may face the risk of double scrutiny. (The Block)