Former commissioners of the U.S. Securities and Exchange Commission say the agency should take a more thoughtful and collaborative regulatory approach toward artificial intelligence than it did with cryptocurrency, a technology critics say is stifled by “regulating by enforcement.”
“I think when crypto rolled out there was so much fraud that the focus was on the fraud, not the positive. But then the baby got thrown out with the bathwater,” said Dan Gallagher, an SEC commissioner from 2011 to 2015 and now the chief legal, compliance and corporate affairs officer for Robinhood Markets.
