The White House said on April 24 that it received more than 10,000 public comments on its planned artificial intelligence action plan, indicating widespread interest in the technology as the global race for AI leadership accelerates.

Among the stakeholders providing inputs were AI giants such as OpenAI, Meta, Amazon, Google, and Microsoft. In addition, organizations in academia, non-profits, and industry associations also took part in the discussion.

A preliminary review of comments from major private-sector companies highlighted several recurring themes, including the need for greater investment in US energy resources to support AI growth, foreign policy efforts to enhance the global influence of American AI firms, and improved infrastructure to advance AI development domestically.

Excerpt from Meta’s comments. Source: NITRD

In addition, many companies lobbied for an open, innovative framework to guide the American AI industry and provide safeguards to individuals.

The White House issued a request for comments on Feb. 6. The administration says these comments “will help define the priority policy actions needed to sustain and enhance America’s AI dominance.” US President Donald Trump has pledged to make the United States the “world capital” of AI and crypto.

National security concerns

National security emerged as a key concern among companies submitting feedback. Venture capital firm Andreessen Horowitz wrote that “AI model development is an issue of national concern that should be regulated on a national level. It is critical to American national security, geopolitical objectives, and the nation’s economic and social welfare.”

OpenAI also raised the issue, explicitly naming China as a competitor with “strategic advantages,” including the capacity, as an “authoritarian state,” to rapidly mobilize resources.

In January 2025, Chinese company DeepSeek launched their R1 model, sparking alarm in the US tech sector and triggering volatility in domestic equity markets.

AI and crypto are widely viewed as two of the most transformative emerging technologies, with growing overlap of AI-powered agents and digital financial products.

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The US Federal Reserve has announced it would withdraw guidance for banks engaging in crypto asset and stablecoin-related activities.

”The Board is rescinding its 2022 supervisory letter establishing an expectation that state member banks provide advance notification of planned or current crypto-asset activities,” the Board of Governors of the Federal Reserve explained in an April 24 statement.

Any crypto-related activities will now be monitored through the Federal Reserve’s normal supervisory process, it said.

The Federal Reserve is also rescinding its 2023 supervisory letter that impacted how state banks could engage in stablecoin activities.

This is a developing story, and further information will be added as it becomes available.

The US Securities and Exchange Commission (SEC) has delayed a decision on whether to approve a proposed exchange-traded fund (ETF) holding Polkadot’s native token, regulatory filings show. 

According to an April 24 filing, the regulator has extended its deadline for a final ruling until June 11, nearly four months after the Nasdaq sought permission to list Grayscale Polkadot Trust on Feb. 24.

Grayscale’s ETF filing adds to a roster of roughly 70 proposed ETFs awaiting SEC approval, including funds holding altcoins, memecoins, and crypto-related financial derivatives, according to Bloomberg Intelligence.  

Asset managers are pitching ETFs for “[e]verything from XRP, Litecoin and Solana to Penguins, Doge and 2x Melania and everything in between,” Bloomberg analyst Eric Balchunas said in an April 21 post on the X platform. Asset manager 21Shares is also awaiting permission to list its own Polkadot ETF.

Polkadot is a layer-1 blockchain network launched in 2020. Its native token, DOT (DOT), has a market capitalization of approximately $6.6 billion as of April 24, according to CoinMarketCap.

Polkadot’s price over time. Source: CoinMarketCap

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Altcoin ETF pipeline

Grayscale is among multiple asset managers seeking regulatory clearance to list altcoin ETFs in the US. The company is already behind several crypto funds, including spot Bitcoin (BTC) and Ether (ETH) ETFs. 

The asset manager has also asked for permission to launch ETFs holding tokens such as Solana (SOL), Litecoin (LTC), XRP (XRP), Dogecoin (DOGE), and Cardano (ADA).

Crypto ETFs scheduled for SEC review. Source: Eric Balchunas/Bloomberg

The pipeline of proposed fund listings comes as more than 80% of institutional investors say they plan to boost allocations to crypto in 2025, according to a March report by Coinbase and EY-Parthenon. 

However, analysts caution that demand for altcoin ETFs is likely to be much more limited than for funds holding core cryptocurrencies such as Bitcoin and Ether. 

“Having your coin get ETF-ized is like being in a band and getting your songs added to all the music streaming services,” Balchunas said. 

“Doesn’t guarantee listens but it puts your music where the vast majority of the listeners are.”

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