Fight Over AI Bill in CA, Skyrocketing Bitcoin ATM Fraud & More

Tech Lobby Zeroes In on AI Bill in CA

Opponents of a first-of-its-kind bill (SB 1047) in California aimed at regulating major developers of artificial intelligence outnumbered supporters of the measure by 3 to 1, according to analysis by the state’s Senate. Although those 150 artificial intelligence companies, trade groups and other entities and individuals failed to kill the Safe and Secure Innovation for Frontier Artificial Intelligence Models Act, their opposition reflects AI’s emergence as the central front in the ongoing battle between states and the tech industry, after years of fighting over data privacy and other issues.

And it’s not too surprising that SB 1047 drew so much attention, given that California is a national leader in tech policy and home to 35 of the world’s top 50 AI companies.

“They need to get their positions heard in Sacramento, because what Sacramento does will shape so many other states,” said Thad Kousser, a professor of political science at the University of California San Diego. (PLURIBUS NEWS)

Bitcoin ATM Scams Skyrocketing

The Federal Trade Commission reported this month that fraud losses associated with bitcoin ATMs, or BTMs—similar to regular ATMs but allowing users to buy or send bitcoin and other cryptocurrencies instead of dollars—have risen 1,000% since 2020, exceeding $65 million in the first six months of this year. BTMs are vulnerable to malware attacks, allowing hackers to steal funds or manipulate transactions. (CNBC, FEDERAL TRADE COMMISSION)

Youth Social Media Law Takes Effect in TX

Facebook and Instagram parent company Meta released new parental control features for Texas-based users to comply with HB 18, the Securing Children Online Through Parental Empowerment Act, which was enacted in 2023 and went into effect on Sept. 1. The law was intended to restrict kids’ access to harmful online content, including material promoting self-harm or substance abuse, as well as to give parents more control over their children’s online activity. (TEXAS TRIBUNE)

—By SNCJ Managing Editor KOREY CLARK

As we’ve previously reported, most states have either introduced or enacted legislation related to AI in the past twelve months. AI continues to be a pressing issue for state lawmakers this year, potentially introducing a host of challenges for businesses. And we don’t foresee that changing any time soon. That is why LexisNexis® State Net® would like to offer you 30 days of AI legislative and regulatory alerts for free.*

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