Electric Capital: AI-powered crypto wallets are pushing the boundaries of the law
Svmuu News: Avichal Garg, a partner at Electric Capital, noted that as AI agents become increasingly autonomous, developers are beginning to configure crypto wallets for them, enabling the software to hold assets, pay service fees, trade tokens, and even hire other AI agents. This trend is propelling crypto technology into a new phase—building financial systems for “non-human entities”—but the relevant legal framework is still significantly lagging behind. He believes that by leveraging blockchain’s programmable money, instant settlement, and global accessibility, AI agents will not only be able to make decisions but also independently execute transactions, thereby forming software entities capable of “thinking and executing financial activities.” Garg notes that this model is similar to the emergence of the limited liability company system in the 19th century, which lowered the barrier to entry for economic activity. As participation costs continue to decline, more individuals and teams worldwide can create economic value through AI agents. However, the core issue remains the definition of legal liability. Since AI itself cannot be punished, there is still no clear answer as to who bears responsibility if an AI agent with an independent wallet participates in transactions, lending, or commercial activities and causes losses. This issue may become a fundamental challenge that future regulators must address.
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