Big Tech, Big Trouble: Washington Cracks Down on Crypto and Streaming Giants

The U.S. government is putting two powerful industries under the microscope — and both moves could reshape the future of digital entertainment. A new tax bill supported by Trump may effectively outlaw decentralized stablecoins, sparking panic across the crypto and Web3 creator space. Meanwhile, a bipartisan group of senators is urging the FTC to investigate Spotify for bundling music and audiobooks in ways that could undercut competition. The legal spotlight is back on Big Tech — with serious implications for artists, creators, and platforms.

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ChaseLawyers Newsletter
June 24, 2025

Hi there,

This week’s newsletter looks at two high-stakes moves from Washington — both with major implications for creators and tech companies. First, a proposed tax law supported by Donald Trump could effectively wipe out decentralized stablecoins, sparking concern from crypto advocates and Web3 builders who rely on blockchain for financial independence. At the same time, Spotify is facing scrutiny from U.S. senators for bundling its premium music and audiobook services — a practice that critics say hurts competition and consumer choice. Whether you're releasing tracks or launching tech, the rules are shifting fast.

Trump-Backed Tax Bill Threatens Decentralized Stablecoins

A new tax proposal backed by Donald Trump could effectively ban decentralized stablecoins — digital assets not backed by traditional financial institutions. The bill seeks to impose reporting and compliance requirements that critics say would be impossible for decentralized networks to meet. Proponents argue it’s about financial transparency; opponents say it’s a death blow to innovation in the Web3 space. The proposal has already sent ripples through the crypto world, with developers and investors warning it could force projects overseas or underground.

U.S. Senators Urge FTC to Investigate Spotify Bundling

A group of U.S. senators has called on the Federal Trade Commission to investigate Spotify’s bundling of music and audiobooks in its premium subscription plans. The concern? That Spotify is using its market dominance to crowd out competitors and violate antitrust principles. Lawmakers say bundling could give Spotify an unfair edge over smaller platforms, hurting innovation and limiting consumer choice. Spotify has defended the move as user-friendly and efficient, but with bipartisan pressure mounting, regulatory action may be on the horizon.

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INDUSTRY NEWS

Trump’s Crypto Law Could Kill Decentralized Stablecoins

A proposed tax bill backed by Trump may spell the end for decentralized stablecoins, threatening Web3 innovation in the U.S.

US senators call for FTC probe into Spotify’s bundling practices

Lawmakers are urging the FTC to investigate Spotify’s music-and-audiobook bundles, citing potential antitrust concerns.

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Barry Chase, Esq. is an honors graduate of Yale College and Harvard Law School, and the founding partner of ChaseLawyers®. In addition to his entertainment attorney legal practice, Mr. Chase lectures regularly on the representation of media personalities, the legal “do’s and don’ts” of music, television, and film production, and the intricacies of film rights option agreements.

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Alexander Loveyko, Esq. is a New York-licensed attorney and Partner at ChaseLawyers, focusing on intellectual property, entertainment, and Internet law. Based in Miami, he represents creators, Web3 startups, and international talent, advising on IP, licensing, music catalog deals, and immigration matters.

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