The US Treasury published a proposed rule on October 22 that would prohibit or require reporting for certain investments in artificial intelligence, semiconductors, biotechnology and four other technology sectors in China, Russia, Iran, North Korea and Cuba. Venezuela has been removed from the framework, while Russia and China remain targeted. The proposal tightens the 2024 rules, particularly for artificial intelligence and chips, and applies to venture capital funds, joint ventures and certain limited partner commitments in non-US vehicles. Crypto funds combining artificial intelligence with blockchain will have to verify that no Chinese companies are involved in their investments, with no list of affected companies due to be published. Amidi has already been fined $200,000 for failing to report a $92,478 investment in Noematrix, and the public consultation will remain open until December 7 before the final version takes effect.
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