International Regulatory Enforcement

New Export Regulations on AI Software Could Signal Narrow Approach to Pending “Emerging Technology” Controls
The U.S. Government has imposed new export controls over artificial intelligence software that is specially designed to analyze geospatial imagery. The classification took immediate effect and, as such, this software is now restricted from export to any country, or national thereof, other than Canada. Commerce intends to submit this software to the multilateral regime governing export controls, indicating a potential intent to restrict exports of this software permanently. This is the first major action by Commerce to control exports of AI technology since Congress empowered the agency to clamp down on transfers of so-called “emerging and foundational technologies.” While not technically an action under this new authority, Commerce’s initial step to rein in exports of AI could portend a more targeted, careful approach than has been anticipated.
New EU Anti-Money Laundering Laws Applicable to Cryptocurrency
Anti-money laundering and counter terrorist financing requirements to apply to cryptoasset businesses from 10 January 2020. Crypto-businesses will need to overcome obstacles to customer journeys and satisfy fit and proper threshold.
Financial Regulators Issue Joint Guidance to Snuff Out Reporting Requirement on Legal Hemp-Related Businesses
The Guidance was issued as a result of the Agriculture Improvement Act of 2018 (2018 Farm Bill), which directed the removing of hemp as a Schedule I controlled substance under the Controlled Substances Act.