"Lutnick Calls for AI Standards in Senate Hearing; Bitcoin's Fate Hangs on Fed's Rate Decision"

Commerce Nominee Lutnick Urges AI Standards Establishment in Senate Hearing – Cryptocurrency News Update

Commerce nominee Lutnick urges AI standards establishment in Senate hearing, highlighting the need for clear regulations to ensure responsible development and deployment of AI technologies. Lutnick's testimony comes as the U.S. government considers potential risks and benefits of AI, with a focus on maintaining a competitive edge in the global AI landscape.

Lutnick emphasized the importance of international collaboration in setting AI standards, noting that the U.S. should work with allies to establish a common framework for AI governance. He also stressed the need for public-private partnerships to drive innovation and ensure that AI benefits all Americans.

In the cryptocurrency realm, Lutnick's remarks on AI standards have implications for the development and regulation of decentralized AI platforms and AI-powered blockchain applications. As AI continues to evolve, clear standards and regulations will be crucial for fostering innovation and protecting users in the cryptocurrency ecosystem.

Meanwhile, the crypto market remains volatile ahead of the Federal Reserve's interest rate decision, with Bitcoin struggling to regain momentum. Analysts are divided on whether the Federal Open Markets Committee (FOMC) will maintain current interest rates or signal a potential shift. Some experts suggest that today's meeting could bring a slightly dovish surprise for Bitcoin, while others expect the cryptocurrency to recover from the impact of DeepSeek's emergence regardless.

Standard Chartered's Geoffrey Kendrick expects Bitcoin to continue to rebound in the coming days, although the strength and timing of any return will depend on Jerome Powell and the rest of the FOMC. Kendrick believes that risk assets will wait for the Fed's decision, with Bitcoin potentially trading back above $105,000 if the Fed adopts a neutral stance.

Irrespective of the Fed's decision, there's a general consensus that the coming months will be kind to Bitcoin's price, driven by growing institutional accumulation. CryptoMondays founder Lou Kerner and Kendrick both note that the removal of accounting rule SAB 121 means that U.S. institutions are more likely to enter the digital asset market, with total net inflows to BTC ETFs already reaching $38 billion in just over 12 months.

As the crypto market continues to evolve, clear AI standards and regulations will be essential for fostering innovation and protecting users. With