Captcha-ing fire… NYC recently began enforcing a first-of-its-kind AI law, centered on the use of AI in hiring. The law says that employers using the tech must inform candidates and submit to audits showing that their systems are unbiased. From résumé screening to initial chatbot interviews, automation has made its way into virtually every part of hiring, and four in five companies use the tech. AI hiring laws are in the works in several states, though experts say federal guidelines will likely be needed.
Ripple effects… In what experts called a blow to the SEC’s crypto crackdown, a judge ruled that Ripple's XRP token was a security when sold to investors in 2013 but not a security when it was offered for sale to the public. (FYI: the SEC has said most cryptos are securities.) XRP’s market cap soared from $25B to $45B+ after the news last week, and crypto broadly rallied. Exchanges like Coinbase celebrated it as a win, but they risk getting ahead of themselves — the case was about Ripple, not all crypto, and the SEC may appeal.