So, Joe Biden's got this thing going on, a kind of secret plan. He's using these things called executive orders.
The big deal about these orders is that he doesn't need anyone's approval to make them happen. It's like his way of showing who's boss without bothering Congress. Now, what's super interesting is that one of these orders is all about AI, you know, artificial intelligence.
But here's the twist: if you look closely at the fine print, it talks about crypto and Bitcoin. This is like sounding an alarm in the world of finance because it makes a lot of people want to sell their crypto stuff in a hurry.
Basically, this order says that big-shot companies like Google and Microsoft have to keep an eye on folks who use a ton of computing power.
If someone goes over a certain limit, these companies have to tell the government about it. It's like the government wants to keep tabs on how much tech power we're using. So, long story short, this order isn't just about flexing presidential muscles.
It's a big deal for tech and money stuff. People who play with cryptocurrencies are getting nervous, and the big tech companies are on high alert.
This move by Biden is going to shake things up in the tech world, and we'll be feeling the effects for a while.
Looks like asia's going to continue beating the U.S in this sector. It's sad to see the US ruin their chances at a flourishing economy, but atleast the rest of the world will now have a chance to catch up.
The U.S contributes a good amount to that market size, but it no longer will after this executive order goes through.
