Coinbase CEO speaks out against AI regulation

Brian Armstrong
Brian Armstrong

The head of the Coinbase cryptocurrency exchange, Brian Armstrong, spoke out against regulation of artificial intelligence (AI) and called for decentralization of the industry.

“AI should not be regulated. We need to make progress on this issue as quickly as possible for many reasons (including national security). History shows that regulation has unintended consequences and kills competition/innovation, despite good intentions,” he wrote.

Armstrong suggested decentralization and open source as an alternative.

“We have enjoyed a golden age of software and internet innovation in large part due to a lack of regulation. We need to do the same with AI,” added the Coinbase CEO.

In April, the US National Advisory Committee on AI called on President Joe Biden to speed up regulation of the industry. To achieve this, the department recommended introducing key positions and creating new organizations.

Let us recall that in May, the head of OpenAI Sam Altman, speaking before the US Congress, called on the government to regulate the use and development of artificial intelligence.

That same month, he said the company would leave the European market if it could not comply with the future AI Act.

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