Clarity Act sits idle over Trump ethics question as Warren asks SEC to investigate him

Senator Elizabeth Warren is pushing for the U.S. Securities and Exchange Commission to investigate President Donald Trump's memecoin in a request coinciding with the crypto market structure bill's debate over ethical constraints on government officials' digital assets ties.

Warren, along with fellow Democratic Senator Richard Blumenthal, made the request to Trump's appointed SEC chairman, Paul Atkins, to probe the estimated $3.8 billion in losses from almost a million investors in $TRUMP. The president's recent financial disclosure indicated he'd made $636 million off the token, the lawmakers noted.

"While all cryptocurrency trading involves risk, such a stark asymmetry raises questions about how the president made his cryptocurrency fortune, including through potentially fraudulent enrichment schemes with implications for market integrity and stability — not to mention the financial well-being of nearly a million American investors," the lawmakers argued in the letter to Atkins dated Monday.

by CoinDesk

Industry Survey Results: AI’s Impact on D&O Liability and Insurance

The strongest consensus in the governance portion of the survey concerned the integration of AI oversight into the broader corporate governance framework. Responses were remarkably consistent across insurers, brokers, and insured companies, with between 95.8% and 100% of each group agreeing or strongly agreeing that boards should ensure AI governance forms part of the company’s overall governance structure. Respondents appear to view AI not as a stand-alone technology issue, but as an enterprise risk that should be addressed through established governance and oversight processes.

The survey responses also provide an interesting perspective on the recent news that pending legislation in Delaware would permit the formation of autonomous companies that would be governed exclusively by AI agents with no human control. The survey responses suggest that industry professionals would oppose this possibility; the responses across all groups suggest that a nearly uniform view that human oversight should remain a requirement even for advanced AI-enabled decision systems.

Respondents also drew a direct connection between governance and claims risk. Overall, 94% agreed or strongly agreed that poor AI governance increases the likelihood of D&O-related claims....

by The D & O Diary

Board Use of AI: Still in the Early Innings

According to this survey from Deloitte and the Society for Corporate Governance, public companies boards are pretty far from being “all-in” when it comes to the adoption of AI tools for board business. The survey solicited input from corporate secretaries, in-house counsel, and other governance professionals at 92 public companies and 14 private companies. Here’s excerpt with some of the highlights:

– Board adoption of AI/GenAI remains early-stage and inconsistent....

– Current use and capability-building efforts are focused on practical applications and education....

– Policies, guidance, and governance practices are still developing....

One of the most striking findings was the degree of uncertainty among governance professionals at public companies concerning whether their boards were using AI tools. For example, 71% of respondents were unsure about whether directors had used AI/GenAI tools in meeting-related activities during the past six months, and 72% didn’t know whether the board or any of its committees used AI/GenAI to support key oversight activities during the same period.

by TheCorporateCounsel.net

As Clarity Act teeters, mystery group hammers away at crypto in Washington ads

The crypto industry's central policy drive is to get U.S. laws that elevate it to a fully regulated and government-approved corner of the financial system. While the legislation to do that is struggling with its final Senate test, a mystery organization is flooding Washington, DC, with ads linking crypto to terrorists and drug cartels.

Across television and social media, the localized campaign warns in one example: "The worst people operating in the darkest places use crypto because there are no guardrails," citing connections to drug cartels, terrorists and people praying against seniors.

"Let's bring crypto out of the shadows now," the ads say.

The recently emerging group behind the campaign is Crypto Watchdog, run by Executive Director Chapin Fay, a media strategist who had been involved in past Republican political campaigns but hadn't been previously associated with crypto matters.

by CoinDesk