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A new bipartisan bill wants to ensure the next century of tech is written in America

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A new bipartisan bill wants to ensure the next century of tech is written in America

On Thursday, Congress took a small but significant step toward ensuring America remains the best place in the world to build. Bipartisan legislation – the Promoting Innovation in Blockchain Development Act of 2026 – would protect software developers from being swept up under criminal code Section 1960, a statute designed for money laundering, not innovation. For builders working in good faith on open-source software, that legal gray zone has cast a chill on American competitiveness.

It is one bill. But the principle it embodies reaches further than any single piece of legislation – and it arrives at a pivotal moment.

As the United States approaches its 250th anniversary this July, it is tempting to look backward to commemorate milestones and celebrate triumphs. But America’s most consequential moments have rarely come from preservation alone. They have come from renewal: building new systems that allowed the country to adapt to a changing world.

Every American century has been defined not just by ideals, but by infrastructure. Canals and railroads powered industrial expansion. Telecommunications connected a continental economy. The internet reshaped commerce, culture and capital markets. Each era rewarded those willing to build.

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Today, the next layer of infrastructure is taking shape in code.

Software developers are the architects of modern economic systems. They shape how money moves, how markets function and how people coordinate on a global scale. Unlike the builders of past eras, many are globally distributed and highly mobile – choosing where to work and innovate based on clarity, opportunity and regulatory environment. Open-source development allows anyone, anywhere, to contribute foundational code. That work has produced billions of lines of software that are collectively maintained and power modern commerce and coordination.

At the same time, the nature of financial infrastructure itself is evolving. Where previous generations built physical rails, today’s builders are creating digital rails – protocols that move value, establish trust and operate at internet speed. These layers increasingly underpin payments, financial services, identity and ownership.

One illustration of this transformation is the growth of the developer ecosystem building on Solana. According to the most recent Electric Capital Developer Report, Solana was the leading ecosystem for new developers in 2024, growing 84% year over year. The Solana ecosystem shows how fast, low-cost, open infrastructure attracts and retains talent willing to invest in solving real problems – from payments and decentralized finance to identity and decentralized applications at scale.

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This is not about hype or token prices. It’s about where infrastructure gets deployed, and whether the builders of tomorrow, who write the code that defines digital markets, feel a country welcomes innovation or obstructs it.

Globally, governments are recognizing this reality. Several jurisdictions have moved forward with clear frameworks for digital assets and blockchain-based systems, providing developers and entrepreneurs with predictability. This sends a signal: building is welcome here.

In the United States, there are encouraging signs of progress beyond Thursday’s bill. Under the leadership of SEC Chairman Paul Atkins, the Commission is shifting from a posture defined primarily by enforcement toward one focused on engagement, clarity and constructive rulemaking.

Developers and market participants do not expect the absence of regulation – they expect rules that are understandable, durable and aligned with how modern technology actually functions. Recent efforts to engage industry, solicit public input and distinguish bad actors from good-faith builders are an important step toward restoring confidence that the United States intends to lead, not lag, in the development of digital financial infrastructure.

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We have seen this dynamic before. The early days of railroads, aviation and the internet were marked by experimentation and ambiguity. Regulation followed innovation, not the other way around. That sequence was not a flaw; it was a feature of leadership. It allowed the United States to set global standards rather than inherit them.

As we look toward America’s next 250 years, the same principle applies. Protecting the freedom to build – especially in open, general-purpose technologies – is a core American value. Writing code, absent intent to harm, is a form of expression and exploration. A nation founded on free speech and enterprise should be cautious about criminalizing innovation simply because it is new.

This moment is also an opportunity to renew American leadership in capital markets. Blockchain-based systems enable faster settlement, broader participation and more resilient market infrastructure – an evolution some have termed “internet capital markets.” These ideas are not about overnight disruption, but about upgrading the rails beneath existing institutions so they remain globally competitive.

The question before us is not whether these technologies will shape the global economy. They already are. The question is whether the United States will lead its development – or watch as talent, standards, and capital consolidate elsewhere.

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America’s founders did not assume their experiment would succeed forever. They designed it so future generations could improve it. As we celebrate our nation’s 250th year, we face a similar responsibility: not to preserve the past unchanged, but to ensure that future builders still see America as the best place in the world to build.

The next American century will be written in code. The choice we make now determines where that code gets written.

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Crypto World

Will crypto market dip as USDT exchange reserves decline?

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Will crypto market dip as USDT exchange reserves decline?

The crypto market has faced sustained pressure in February, with prices struggling to build momentum amid declining stablecoin exchange reserves.

Summary

  • CryptoQuant reports USDT reserves fell from $60B to $51.1B in two months, reducing market liquidity.
  • Daily trading volumes are modest and active on-chain wallets have been declining.
  • Analysts are split: VanEck calls it orderly deleveraging, while others warn of deeper losses if support breaks.

Bitcoin (BTC) has dropped by nearly 50% from its peak in October 2025 and by roughly 30% since the year began. Alongside the decline, there has been slower stablecoin growth, cautious interest rate signals from the Federal Reserve, and weaker U.S. manufacturing data.

Total market capitalization has fallen to around $2.3 trillion. At the same time, the Fear and Greed Index has slipped to cycle lows. Continued exchange-traded fund outflows have added to investor caution and reduced fresh capital entering the market.

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Liquidity drain raises downside risks

On Feb. 26, CryptoQuant analyst TopNotchYJ warned that shrinking stablecoin reserves are becoming a major risk factor. Data shows that Tether (USDT) exchange balances fell from $60 billion to $51.1 billion in two months, a $9 billion decline that has tightened trading liquidity since January.

TopNotchYJ described the drop in USDT reserves as clear evidence of capital moving out of crypto markets. Stablecoins are the main source of trading activity, and falling balances usually signify a drop in investor confidence. Moving below $50 might put more selling pressure on major assets like XRP, ETH, and BTC. 

The number of active wallet addresses has also rapidly decreased, from about 376,000 to 263,000. This shows that retail investors and institutional investors are taking a backseat. Price rebounds typically lose strength when there are fewer market participants, as demand naturally softens.

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A similar pattern is visible in trading behavior. The daily volume has dropped by more than 6% to roughly $339 million. This indicates little speculative activity in the market, but it does not suggest widespread panic selling. 

Short-term outlook and analyst views

Analysts remain divided, although most expect high volatility in the near term. Some warn that Bitcoin could slide another 20% to 30% if economic pressure continues, especially if support near $60,000 breaks. The $70,000 level continues to act as a major barrier to recovery.

Matthew Sigel of VanEck has described the recent decline as “orderly deleveraging.” He argues that leverage has cooled and that the market is adjusting rather than entering a full collapse.

Researchers at K33 Research see parallels with the late-2022 bottom. They point to fragile economic conditions and stagnant stablecoin supply as limits on short-term upside.

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More positive views come from Bitwise Asset Management, which manages more than $15 billion. Their analysts continue to highlight Bitcoin’s long-term potential and see recent pullbacks as possible accumulation opportunities.

Several technical levels remain are now in focus. Support lies between $64,000 and $66,000, followed by $60,000 and the $50,000–$55,000 zone. Resistance is clustered near $70,000 and $80,000.

Until stablecoin reserves recover and user activity improves, analysts expect the market to stay vulnerable, with downside risks likely to persist in the coming weeks.

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US Lawmakers Introduce Bill to Protect Blockchain Devs from Prosecution

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Law, Politics, Congress, Crimes, Developers

A bipartisan group of lawmakers in the US House of Representatives has introduced legislation aimed at halting prosecution of software developers who do not have custody or control of others’ crypto assets.

In a Thursday notice, Representatives Scott Fitzgerald, Ben Cline and Zoe Lofgren said that they would be sponsoring the Promoting Innovation in Blockchain Development Act in an effort to change how to handle criminal cases potentially involving blockchain developers.

The bill would clarify that Section 1960 under US federal law, on the “prohibition of illegal money transmitting businesses,” would apply only to actors with control of others’ digital assets.

At least two crypto advocacy organizations publicly supported the bill. The Blockchain Association called it a “critical step” to encourage US-based developers. The DeFi Education Fund (DEF) said the legislation would likely put a stop to prosecutions similar to those of Tornado Cash developer Roman Storm or the creators of the Samourai Wallet. 

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“[The bill] makes it clear software developers who do not take custody of or control other people’s money can build neutral technology, here at home, without worrying about being criminally prosecuted as if they are a financial intermediary,” said DEF.

Law, Politics, Congress, Crimes, Developers
Source: DeFi Education Fund

It’s unclear whether the bill, if signed into law, would put a stop to previously filed cases against developers. Storm was found guilty of running an unlicensed money transmitter business in August 2025, while Samourai Wallet founders Keonne Rodriguez and Will Lonergan Hill pleaded guilty to similar charges in July and were later sentenced to five and four years in prison, respectively.

Related: US ‘crypto capital’ claim tested by developer prosecutions

As of Thursday, Storm had yet to be sentenced or face a possible retrial for two other charges.

US Senate to potentially address blockchain bill

Lawmakers in the US Senate have already pitched their own bill for developer protection. In January, Senators Cynthia Lummis and Ron Wyden introduced the Blockchain Regulatory Certainty Act, to clarify that developers writing code or maintaining networks don’t meet the requirements for being criminally liable as an unlicensed money transmitter.

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In the meantime, the Senate has been considering how to move forward with a comprehensive digital asset market structure bill sent from the House in July 2025.

The CLARITY Act passed the Senate Agriculture Committee in January, but has yet to be addressed with a markup in the Senate Banking Committee. It’s unclear whether the final bill potentially passed by the full chamber could address developer protections, which face pushback from some lawmakers.

Magazine: Clarity Act risks repeat of Europe’s mistakes, crypto lawyer warns

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