RE: LeoThread 2025-07-02 07:22
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AI Tokens Plunge 10% As US Senate Rejects Federal AI Regulation Freeze
The Senate voted 99-1 against a proposed 10-year AI regulation moratorium, signaling major pushback from lawmakers.
AI-related cryptoassets saw a 5% drop in market cap and trade volume after the bill’s rejection.
The proposed moratorium would have limited states' ability to regulate AI-related crimes, fueling significant political controversy.
Trump’s Big Beautiful Bill no longer contains a 10-year moratorium on AI regulation, causing several setbacks for related tokens. Trade volumes and market cap for AI cryptoassets both fell over 5% in the last 24 hours.
Senators overwhelmingly shot down the moratorium in a 99-1 vote that saw pro-crypto legislators abandon the effort. Still, the market sector was already in a slump, and it’s hard to determine the bill’s impact.
Trump’s Big Beautiful Bill is a key piece of legislation that covers a huge range of topics. Intense political controversies caused the bill to change shape many times, but it finally passed the Senate today.
However, Senators overwhelmingly rejected the bill’s language supporting AI, showing a massive rebuke for the entire industry.
The vote was nearly unanimous, signaling real apprehension towards the industry. Indeed, the only Senator who voted for it, Thom Tillis, already announced that he won’t seek re-election.
A lot of cryptoassets are tied to the AI industry, and the market sector has taken some major hits since the bill’s language changed. Market cap and volume are both down over 5%:
Smiles, Trump at times does things that puts most people into confusion.
Trump has nothing to do with the US Senate. These were the Senators that voted it, not him.