Kingdom

United

Chair

James

The United Kingdom government’s response to a parliamentary report on artificial intelligence (AI) resulted in a demand for closer intervention.
A House of Lords February <a href="https://publications.parliament.uk/pa/ld5804/ldselect/ldcomm/54/54.pdf" target="_blank" rel="noopener nofollow">report</a> on generative artificial intelligence (AI) and large language&nbsp;models highlighted the government’s narrowing focus on high‑stakes AI safety, which is a deterrent to international competition.
In response to the report, the Secretary of State for Science, Innovation and Technology, Michelle Donelan, <a href="https://committees.parliament.uk/publications/44576/documents/221444/default/" target="_blank" rel="noopener nofollow">clarified</a> the government’s AI oversight is in line with most of the parliamentary recommendations. 
However, on May 2, a member of the House of Lords, Baroness Stowell of Beeston,&nbsp;<a href="https://committees.parliament.uk/publications/44563/documents/221372/default/" target="_blank" rel="noopener nofollow">asked</a>&nbsp;the U.K. government to “go beyond its current position” on how it handles copyright infringement and market competition in AI.
Stowell, chair of the House of Lords Communications and Digital Committee, highlighted the need for updated copyright legislation:
<blockquote data-ct-non-breakable="true">
 “On copyright, the Government has set up and subsequently disbanded a failed series of roundtables led by the Intellectual Property Office. The commitment to ministerial engagement is helpful but the next steps have been left unclear.”
</blockquote>
Stowell further expressed her disappointment in the government’s lack of commitment to enhanced governance measures for AI standards and policy decisions. She also recommended policy discussions around oversight of market competition:
<blockquote data-ct-non-breakable="true">
 “We reiterate our suggestion that market competition is made an explicit policy objective: it should be embedded within the design and review process for new policies and standards, and subject to structured internal and external critique.”
</blockquote>
The U.K. government’s recent response to the parliament signals a new acceptance of regulatory reforms for AI. 
Related: <a href="https://cointelegraph.com/news/crypto-firms-greatest-risks-money-laundering-uk-treasury">Crypto firms among ‘greatest risks’ for money laundering in 2022-2023: UK govt</a>
The U.K. National Crime Agency and police were recently&nbsp;<a href="https://cointelegraph.com/news/uk-police-seize-criminal-crypto-without-arrests">authorized to “seize, freeze, and destroy” cryptocurrencies</a> related to crime proceedings without formal arrests.
Home Secretary James Cleverly said that criminals must not profit from illegal activities. Cleverly cited crypto fundraising by groups as the rationale behind the new police powers.
<blockquote data-ct-non-breakable="true">
 “These reforms will also enhance our national security. Terrorist organisations like Daesh are known to raise funds through crypto transactions and these updated powers will enable our agencies to more easily strip them of their assets.”
</blockquote>
The new regulations were implemented following the passage of a crime bill by the U.K. parliament in 2023, which facilitated the rapid seizure of cryptocurrency.
Magazine: <a href="https://cointelegraph.com/magazine/meme-coins-betrayal-crypto-ideals-or-true-purpose/">Memecoins: Betrayal of crypto’s ideals… or its true purpose?</a>

UK gov’t calls for action on AI copyright, market competition

Cointelegraph

Other articles published on May 3, 2024

Crypto lawyer: Sam Bankman-Fried to serve 20-year prison sentence without parole

Top Cryptocurrencies to Invest in 2024 to Buy Your Dream House

Riding The Wave: How Bitgert Coin Became The New Crypto Sensation

Crypto Market Recovers as Some Coins Trade Below $0.10

Rising Stars in Cryptocurrency: FELON, YIELD, BOOB Lead Gains on DEXScreener Today

BlackRock and Fidelity Dominate Bitcoin ETF Market, Holding Over $27 Billion in BTC

Join our free newsletter for daily crypto updates!