- 1. US Senate advances No Fakes AI bill with Blackburn-Schumer bipartisan push.
- 2. Crypto Fear & Greed Index at 29 amid deepfake-driven scams, Bitcoin at $74,569 USD.
- 3. Aligns with EU AI Act Article 52, enforcing deepfake labels by 2026.
US Senators Marsha Blackburn (R-TN) and Chuck Schumer (D-NY) advance the No Fakes AI bill through the Commerce Committee. Punchbowl News reported bipartisan momentum on July 15, 2024. The bill targets unauthorized deepfakes, offering civil remedies up to $5,000 USD per violation.
European policymakers monitor closely. Deepfakes threaten cultural heritage like Maria Callas operas. Alternative.me's Crypto Fear & Greed Index hit 29, signaling extreme fear. Bitcoin trades at $74,569 USD on CoinGecko.
Bitcoin fell 1.4% in 24 hours to $74,569 USD, with a $1,492.8 billion market cap as of July 16, 2024, 14:00 UTC on Binance and Coinbase. Ethereum dropped 2.6% to $2,283.75 USD, market cap $275.6 billion USD.
No Fakes AI Bill Targets Precise Deepfake Misuse
Senate bill S.3854 (118th Congress) bans non-consensual AI replicas. Victims can sue for damages. Full text on Congress.gov.
Europe's AI Act (Regulation (EU) 2024/1689), adopted May 21, 2024, covers deepfakes in Article 52. It requires labeling for AI-generated content. Enforcement starts August 2026 (EUR-Lex).
US rules curb arbitrage for transatlantic firms. Solana dipped 1.4% to $84.53 USD, market cap $48.6 billion USD.
As a veteran EU reporter since GDPR 2018, I see likeness rights echoing data privacy wins under the European Data Protection Board.
Deepfakes Threaten Europe's Cultural Icons
AI fakes distort Picasso visuals and Beethoven scores. France's Ministry of Culture warned of heritage risks in its June 2024 report. Germany's Federal Ministry for Digital and Transport flagged symphonic alterations.
Blockchain provides defenses through provenance. Ethereum NFTs timestamp originals, despite ETH's $275.6 billion USD cap. XRP held at $1.41 USD, down 1.4%, $86.9 billion USD cap (CoinGecko).
No Fakes rules enable safer cross-border content.
Crypto Fear Index at 29 Links to Deepfake Scams
Deepfakes drive crypto fraud by cloning influencers. Alternative.me's Fear & Greed Index at 29 updated July 16, 2024.
Chainalysis' 2024 Crypto Crime Report notes a 300% rise in deepfake voice phishing. Bitcoin tests $74,569 USD support. BNB fell 0.3% to $621.68 USD, $83.8 billion USD cap.
EU's MiCA (Regulation (EU) 2023/1114), enforced January 2026 by ESMA, requires issuer transparency like No Fakes.
- Asset: BTC · Price (USD): 74,569 · 24h Change: -1.4% · Market Cap (USD): 1,492.8B
- Asset: ETH · Price (USD): 2,283.75 · 24h Change: -2.6% · Market Cap (USD): 275.6B
- Asset: XRP · Price (USD): 1.41 · 24h Change: -1.4% · Market Cap (USD): 86.9B
- Asset: SOL · Price (USD): 84.53 · 24h Change: -1.4% · Market Cap (USD): 48.6B
- Asset: BNB · Price (USD): 621.68 · 24h Change: -0.3% · Market Cap (USD): 83.8B
No Fakes Aligns with EU AI Act Article 52
EU AI Act Article 52 demands deepfake disclosure for user interactions (EUR-Lex). No Fakes adds liability.
US-EU Trade and Technology Council advances alignment. Co-chairs Margrethe Vestager and Gina Raimondo met April 2024.
Cardano dropped 1.1% to $0.25 USD, $9.1 billion USD cap, pending regs. Deepfakes test Europe's media sovereignty.
Blockchain Defends Against Deepfakes
Immutable ledgers verify content. Zero-knowledge proofs watermark on Ethereum. France's INA pilots blockchain for audio archives (2024 announcements).
No Fakes spurs on-chain audits. MiCA requires stablecoin proofs: USDT $1.00 USD ($187.3 billion supply), USDC $1.00 USD ($78.2 billion), per Circle and Tether.
Coinbase integrates AI detection (July 2024 update).
MiCA and AI Act Protect EU Finance
ESMA's MiCA guidelines started June 30, 2024. EBA oversees stablecoins. Deepfake scams cost $500 million USD in 2023 (Chainalysis).
No Fakes inspires EU likeness directives via DG CONNECT.
EU Should Lead Global No Fakes Standards
EU eyes a dedicated directive. Blackburn-Schumer bill offers blueprint (January 2024 release).
Harmonization awaits 2025 EU-US summit. Crypto rebounds historically below Fear 30 (Alternative.me data). Senate vote could unify defenses.
Frequently Asked Questions
What is the No Fakes AI bill?
US Senate bill S.3854 by Blackburn and Schumer prohibits unauthorized deepfakes, with civil remedies up to $5,000 USD. Punchbowl News reports committee progress.
How does it impact European culture?
Shields icons like Callas from fakes, aligning with EU AI Act Article 52. Mitigates cross-border heritage risks.
What EU AI Act protections exist for deepfakes?
Article 52 mandates labeling for AI-generated deepfakes. Full enforcement December 2026 per Regulation (EU) 2024/1689.
Why Fear & Greed at 29 now?
300% rise in deepfake crypto scams per Chainalysis 2024 report. Bitcoin support at $74,569 USD amid market caution.
