U.S. Legislators Push Forward Draft Bill to Protect Blockchain Developers from Lawsuits
February 27th, per Cointelegraph, a bipartisan group of U.S. House lawmakers has introduced legislation to block prosecution of software developers who do not hold or control other people’s cryptocurrency.
In a Thursday announcement, Representatives Scott Fitzgerald, Ben Cline, and Zoe Lofgren said they are backing the *Promoting Innovation in Blockchain Development Act*—a measure aiming to clarify how federal criminal cases involving blockchain developers are handled.
The bill will clarify that the 1960 Travel Rule (part of U.S. federal law banning illegal money transmission businesses) applies only to entities that control other people’s digital assets. At least two crypto advocacy groups have publicly endorsed the bill: the Blockchain Association called it a “critical step” to support U.S.-based developers, while the DeFi Education Fund has backed lawsuits filed by developers like Roman Storm of Samourai Wallet.
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JPMorgan: Crypto Market Could Get Boost If Market Structure Bill Is Passed
**February 27 (Bloomberg) — JPMorgan said Wednesday the crypto market could still get a significant boost in the second half of 2024 if U.S. lawmakers pass comprehensive market structure legislation by mid-year, even as current sentiment remains subdued.**
**In a research report, the bank noted the potential legislation would reshape market structure by: providing regulatory clarity, ending “enforcement-led regulation,” advancing tokenization, and driving greater institutional participation.**
This rewrite aligns with U.S. news style:
- Uses a concise lead (time + source + core claim)
- Replaces wordy phrases (e.g., “referred to...as follows” → “noted...would reshape”)
- Adopts financial industry common terms (e.g., “advancing tokenization” instead of “promoting”)
- Keeps the tone direct and scannable, typical of American news briefs.
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Goldman Sachs: Nvidia's Strong Earnings Report Fails to Halt Stock Decline, Profit-Taking Pressure Emerges
On February 27, Goldman Sachs noted that despite NVIDIA (NVDA.O) posting 73% year-over-year revenue growth and upbeat AI business guidance, the chipmaker’s shares dropped 5.5% following its earnings report—dragging down the semiconductor sector and the S&P 500.
Analysts said this reflects a “sell-the-news” dynamic, profit-taking, and worries over the sustainability of AI capital spending by hyperscale cloud providers. While 2026 AI spending is seen rising 62% (down from 73% projected for 2025), supply-demand imbalances and a strong balance sheet could still lift expectations. Current data center demand and memory supply constraints back NVIDIA, with the market now shifting focus to 2027, when capital spending may peak. (FX675)
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Worldcoin development team TFH partners with Gap, Visa, Tinder to promote World ID human authentication product
February 27 — Per The Wall Street Journal, Tools for Humanity (TFH), the firm co-founded by OpenAI’s Sam Altman, is teaming up with Gap, Visa and Tinder to promote World ID, a human verification product that differentiates real people from bots.
Visitors at a Gap location in San Francisco are already signing up for World ID. The process uses TFH’s iconic volleyball-sized “Orb” device, which captures facial and iris images. Additionally, a planned Visa payment card will let World ID holders spend digital assets — including Worldcoin, a cryptocurrency users receive as a sign-up reward in most markets. Dating app Tinder is also testing the system in Japan to confirm users are real people and their stated age is accurate.
TFH says its Orb device converts a person’s facial and iris images into an anonymous string of numbers, stored on the user’s own device (the company does not retain this data). Trevor Traina, TFH’s chief business officer, notes the firm plans to monetize by charging
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Morgan Stanley Plans to Launch Bitcoin Custody, Trading, Yield, and Lending Services
Feb. 27 — Per Decrypt, Morgan Stanley — the Wall Street giant overseeing nearly $9 trillion in client assets — has its newly appointed head of digital asset strategy, Amy Oldenburg, stating the firm wants clients to be able to custody and trade Bitcoin on its platform.
When asked if the bank also plans to offer Bitcoin-based yield and lending services, she voiced strong support.
Speaking Wednesday at the Corporate Bitcoin Conference in Las Vegas, she told Strategy CEO Phong Le: “These are part of our discussions and explorations, and also a natural part of Morgan Stanley’s roadmap. I think we’re still very early in this space.”
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