Plus: Crypto exchange CoinEx, which was a hub for illicit Iran cash, shutters. And federal regulators probe if Tesla’s Cybercab conflicts with safety standards. Julie Chang hosts.
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[00:00:01] Here's your afternoon TNB Tech Minute for Tuesday, September 15. I'm Julie Chang for The Wall Street Journal. House Financial Services Committee members questioned Treasury Secretary Scott Bessent today regarding AI risks. Bessent stated the Treasury Department has focused on AI safety since the limited release of Anthropic's Mythos models and argued against giving AI labs liability exemptions.
[00:00:26] The best way to guarantee safety is that the creators are liable for what they build and generate. Addressing AI labs going public, Bessent noted that liabilities must be clearly detailed in S1 filings and prospectuses, though added that quantifying those risks may be difficult. On global competition, he advocated for expanding U.S. open-source models.
[00:00:50] Crypto exchange CoinEx said it's shutting down, citing a prolonged market downturn and rising compliance costs. The closure comes less than three months after a journal article highlighted its popular use among Iranian users, including those linked to the Islamic Republic. According to blockchain intelligence firm TRM Labs, Iran-linked wallets processed over $3.8 billion through CoinEx since 2019. CoinEx pledged to block Iranian users following the report.
[00:01:21] CoinEx's founder said the decision to shut down was years in the making and not directly caused by curtailing Iranian operations. Finally, federal regulators are probing whether Tesla's steering wheel-free cybercab conflicts with federal safety standards. In an order published today, the National Highway Traffic Safety Administration asked Tesla to confirm if the cybercab can be driven by a human using temporarily attached manual controls.
[00:01:48] The EV maker's two-seater robo-taxis lack pedals, mirrors, and a steering wheel, and currently operates paid rides in Austin, Texas. Tesla has said it plans to eventually sell the cybercab to the public. Although Tesla claims the design meets all safety rules, selling a vehicle without traditional controls is unprecedented and may conflict with federal regulations. Tesla didn't respond to a request for comment. A spokesman for the agency declined to comment.
[00:02:17] And that's your TNB Tech Minutes. Check back in the morning for another quick tech update.