The FTX crash and ensuing fallout has fueled efforts by Congress and federal regulators to rein in the cryptocurrency business, which caused massive investment losses this past year. Senator Sherrod Brown (D-Ohio) and Congressman Patrick McHenry (R-North Carolina) are among those leading the charge to put consumer safeguards in place. McHenry in January became chair of the House Financial Services Committee. Legislators are also calling for robust enforcement of existing laws, which the crypto industry has been resisting. Senator Elizabeth Warren (D-Massachusetts) said Congress needs the resources “to be an effective cop on the beat.” Read more

Google is introducing a new artificial intelligence app called MusicLM that creates music in any style or genre based on text prompts and can translate a whistled melody or casually hummed snipped into instrument sounds. TechCrunch calls the technology “impressive” but says the Alphabet company “fearing the risks, has no immediate plans to release it,” in recognition of the controversy surrounding AI models trained using copyrighted material. MusicLM was created using a dataset of 280,000 musical hours, resulting in the ability to generate minutes-long songs of “significant complexity.” Read more

A new artificial intelligence service offering free watermark removal from photographs is causing worry among copyright holders. Photographers took to Twitter to complain about this threat to their livelihoods while the creative community at large pondered the broader implications for AI infringement on intellectual property rights — a central aspect of discussions involving ChatGPT, which was trained using privately held as well as public domain data. Available to download as an app from sites including Product Hunt and the Google Play Store, the WatermarkRemover.io app itself is legal, while some of its potential uses are not. Read more

Apple is preparing for the release of its upcoming mixed reality headset by engineering software that, while aimed largely at developers, would also allow users to create their own augmented reality apps in the same way as Final Cut Pro, which is used to edit video by both professionals and laymen. Apple’s highly anticipated headgear is expected to come to market this year, and a general use AR development tool would be a major coup for the company, given that AR apps are complicated to create and new technologies typically rely on fresh content to drive sales. Read more

Disney Advertising has struck a deal with measurement firm EDO to examine audience engagement across multiple platforms, starting with Hulu. EDO will also provide outcome data, quantifying the effectiveness of streaming campaigns. The agreement allows Disney to provide brands with information detailing the impact of streaming ad exposure “on cross-screen digital behavior like search and site visits,” said Disney Advertising SVP of data enablement and category strategy Danielle Brown from the company’s annual Tech & Data Showcase last week. The company has also expanded its relationship with Samba TV, another vendor in the new currency space. Read more