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first_img The Democratic Party of the United States regains control of Congress, and NVIDIA's AI chip exports will be subject to scrutiny

As the Democratic Party in the United States regains a majority in Congress, the new committee leaders are preparing to request Nvidia CEO Jensen Huang to explain whether the company has taken sufficient measures to prevent AI chips from flowing into China and other U.S. adversaries. The Democrats will utilize their authority in key committees to summon executives from Nvidia and other Silicon Valley companies to attend public hearings and request documentation to assist in industry investigations. After the new Congress is inaugurated on January 3, the Democrats will officially control both the House and the Senate.Currently, three Republican members of the House overseeing national security-related committees have requested Jensen Huang to provide a briefing on his interactions related to Megaspeed International in Singapore. Meanwhile, lawmakers are negotiating three bipartisan measures involving restrictions on semiconductor manufacturing equipment sales to China, codifying existing AI chip sales restrictions, and requiring verification of the location of AI processors. Among these, the "AI Oversight Act" aims to maintain current export controls for 18 months; the "Chip Security Act" requires the U.S. Department of Commerce's Bureau of Industry and Security to ensure that AI data center chips exported overseas have security mechanisms to verify whether they are being diverted to China and other concerning destinations.

Galaxy Research Director: Key cryptocurrency legislation is unlikely to make substantial progress after the Democratic Party's victory

Galaxy Research Director Alex Thorn stated that after the Democratic Party won both houses of the U.S. Congress, significant progress in key digital asset legislation is still expected to be difficult, and the leadership of congressional committees will also change. He mentioned that Elizabeth Warren may become the chair of the Senate Banking Committee, while Maxine Waters is expected to regain control of the House Financial Services Committee.Several Republican lawmakers who support the crypto industry were defeated, but the pro-crypto camp did not suffer a complete loss. According to Stand With Crypto, 19 pro-crypto senators and 226 pro-crypto representatives have been elected. Tracking by Molly White shows that in 12 highly competitive elections, the side supported by crypto and AI political action committees lost 9, but won all in the safer 40 elections.Reports indicate that House Democrats are discussing expanding Waters' previously proposed "Crypto Investor Consumer Rights Act" into a broader crypto market structure bill. Thorn reiterated that no substantial progress is expected in Congress on key digital asset legislation. In the absence of legislation, the SEC, CFTC, and banking regulators have clarified crypto rules within their existing statutory authority, and the Trump administration still has two years to continue advancing related work.
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