U.S. Senate Committee on Banking, Housing and Urban Affairs ranking member calls for testimony on eased AI chip export controls to the UAE

Sen. Elizabeth Warren, the ranking member of the U.S. Senate Committee on Banking, Housing and Urban Affairs, issued a statement criticizing the Department of Commerce’s decision to ease export controls on artificial intelligence chip sales to the United Arab Emirates. She said the move gives G42 license-free access to advanced AI chips and promises favorable treatment for MGX, and argued that Commerce Secretary Howard Lutnick and Under Secretary Jeffrey Kessler should testify before the committee on the national security implications. Warren linked the export control decision to reported UAE investments in the Trump family’s crypto business, World Liberty Financial, and cited concerns about possible diversion of sensitive technology to China and other security risks. She also said Congress should not advance crypto legislation that does not prevent the president and his family from profiting from crypto. Separately, Warren and Senate Democratic leaders called on congressional committees to hold hearings into the national security implications of President Trump’s cryptocurrency holdings, including possible influence by the UAE or unknown third parties. The statement also pointed to a report Warren released last month alleging that UAE-linked officials and entities invested in World Liberty Financial and that the Trump administration later took 10 policy actions benefiting the UAE.