The United Kingdom government’s response to a parliamentary report on artificial intelligence (AI) has sparked a call for greater intervention. The February report from the House of Lords, which focused on generative AI and large language models, raised concerns about the government’s limited focus on high-stakes AI safety, which could hinder international competition. In response, the Secretary of State for Science, Innovation and Technology, Michelle Donelan, clarified that the government’s oversight of AI aligns with most of the parliamentary recommendations.
However, Baroness Stowell of Beeston, a member of the House of Lords, has called on the U.K. government to go beyond its current position on copyright infringement and market competition in AI. As the chair of the House of Lords Communications and Digital Committee, Stowell emphasized the need for updated copyright legislation and expressed disappointment in the government’s lack of commitment to enhanced governance measures for AI standards and policy decisions. She also recommended policy discussions on oversight of market competition.
This response from the U.K. government indicates a newfound acceptance of regulatory reforms for AI. In related news, the U.K. National Crime Agency and police have recently been granted the power to seize, freeze, and destroy cryptocurrencies linked to criminal activities, even without formal arrests. Home Secretary James Cleverly explained that this measure aims to prevent criminals from profiting from illegal activities, specifically citing crypto fundraising by groups as the reason behind these new police powers. These regulations were implemented following the passage of a crime bill by the U.K. parliament in 2023, which facilitated the swift seizure of cryptocurrency.
In the midst of these developments, the question arises of whether memecoins, a type of cryptocurrency, betray the ideals of the crypto industry or serve their true purpose.