Reported 8 months ago
The US Treasury Department has introduced new regulations to further restrict and monitor American individuals and businesses from investing in Chinese AI, computer chips, and quantum computing projects that can be used in the military sector. This initiative stems from an executive order issued last August by the US President, aiming to limit funds from the US that could be used by 'countries of concern' like China to access advanced technology. The rules specify the information American citizens and permanent residents must provide during relevant transactions and outline situations considered violations. The regulations particularly prohibit US investors from funding AI systems intended for military purposes like weapon targeting, combat, and location tracking. Transactions affected include equity acquisitions, debt financing convertible into equity, and joint ventures. The proposed rules will be open for public comment until August 4th this year, with the final rules to follow thereafter.
Source: YAHOO