The U.S. Securities and Exchange Commission (SEC) Crypto Task Force met with multiple companies working on artificial intelligence (AI). It triggered a significant rise in various AI coins, with World (WLD) rallying more than 60% in the past 24 hours.
US SEC Crypto Task Force Met 6 AI Companies
According to a memo by the SEC Crypto Task Force, its staff met with representatives from companies to focus on regulation amid the AI-crypto convergence. Collab+Currency Management, Nous Research, Tensor Garden AI, Prime Intellect, Atlas, and 404 participated in the meeting on September 8.
The firms underscored the importance of open-source AI and decentralized infrastructure to ensure the United States’ long-term competitiveness, innovation, and security.
The Crypto Task Force and the companies discussed topics such as the crypto infrastructure’s role in AI development and preserving open innovation and U.S. leadership under current frameworks.
They also discussed regulatory requirements amid AI-crypto convergence. The firms seek the SEC’s stance on how the existing securities law may challenge or support AI-crypto innovation.
Nate Geraci, president of NovaDius Wealth Management, said people don’t fully appreciate how fast things are moving, boosting crypto adoption.
AI Coins Soar, Huge Rally Ahead?
World (WLD) price jumped over 60% in the last 24 hours, extending the weekly gain to over 130%. WLD price is trading at $2, with an intraday low and high of $1.19 and 2.04, respectively.
Trading volume has increased nearly 300% over the last 24 hours, indicating massive interest among traders. Also, Coinglass data shows massive buying among derivatives traders, with futures open interest rising more than 50%.
Other top AI crypto tokens also recorded massive upside moves. NEAR Protocol (NEAR) climbed 8% to $2.70, while RENDER and VIRTUAL shot up more than 10%.
FLOCK skyrocketed more than 80% as crypto exchanges Binance and Upbit announced listing the token in multiple pairs. GRT, INJ, THETA, LPT, ARKM, and AI16Z are other AI coins witnessing massive demand from investors.
Varinder Singh
Varinder is a seasoned leader in the fintech and crypto media with over 12 years of experience, including over 6 years dedicated to blockchain, crypto, and Web3 developments. He is known for covering high-impact and quality news stories for publishers such as CoinGape, The Coin Republic, and The Crypto Times, while perfecting and training multiple journalists during his tenure. Being a Master of Technology degree holder, analytics thinker, and tech enthusiast, he has shared his knowledge of disruptive technologies in over 5000 news articles and papers.
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Source: https://coingape.com/ai-coins-gain-as-us-sec-crypto-task-force-met-multiple-firms-today/