Recognizing the need to maintain U.S competitiveness internationally and to preserve consistency nationwide, Senator Ted Budd is calling for federal regulation to preempt state laws on AI use.

Speaking at the ABA’s Annual Convention in Charlotte, Budd called for preemption to prevent a “patchwork problem” and in the absence of preemption he worried the net result would be the stifling of  innovation and a risk of “offshoring of these [large language] models.”

Budd also addressed the need for additional “market structure” legislation to address continued gaps in the stablecoin regulatory framework following the Genius Act’s passage earlier this year.

“Banks are rightly concerned about an outflow” of deposits, he noted. “We want to do something, but we’re not sure the right way.”

Author: sdbrownlow

Student of Design