Coinbase CEO Brian Armstrong has rejected calls for a new AI self-regulatory body, arguing that existing laws already provide enough protection against harmful AI. His remarks came just a day after the crypto exchange disclosed that AI now writes over 95% of its code, more than twice the figure the company reported earlier in the year. The proposal for a new regulatory body was made by Google DeepMind CEO Demis Hassabis, who called for the creation of a federally overseen standards body to test and certify frontier AI models before they are deployed.
Regulatory Proposal
According to Hassabis, artificial general intelligence could arrive within a few years, introducing cybersecurity and biological risks as well as national security issues. Reactions from Hassabis’ peers were quick, with tech entrepreneur Chamath Palihapitiya and OpenAI’s Sam Altman describing it as a thoughtful proposal.
Coinbase’s Stance
Armstrong disagreed, maintaining that such arrangements often create a dual approval process that forces businesses to satisfy both state regulators and industry bodies. He insisted that AI needs neither an SRO nor a government watchdog, since there has been no harm done that couldn’t be compensated.
AI Usage
Coinbase’s head of platform Rob Witoff recently revealed that between 95% and 100% of the crypto exchange’s code is now written by or with large language models, more than doubling an estimate the company shared in February. Other crypto firms have also reduced headcounts this year while expanding on AI use, with some setbacks, such as an AI-generated notification that incorrectly reported the result of a FIFA World Cup match
Based on reporting from crypto.news.
