The White House circulated a draft executive order in recent weeks to create a self-regulatory organization for frontier AI developers that would set industry standards. The plan has since stalled before reaching the president due to a lack of senior-level support, including opposition to the proposed model based on the Financial Industry Regulatory Authority (FINRA).

Former White House AI czar David Sacks described the FINRA-style approach as a "horrible idea," arguing it would create a government-linked approval queue that could benefit China. The proposal, based on a suggestion by Google DeepMind CEO Demis Hassabis and supported by Treasury Secretary Bessent, leaves a June voluntary testing framework as the current US mechanism for AI oversight.