The global cryptocurrency market cap now stands at $2.3T, down by -0.31% over the last day, according to CoinMarketCap data.
Bitcoin (BTC) has been trading between $66,124 and $67,289 over the past 24 hours. As of 09:30 AM (UTC) today, BTC is trading at $66,674, up by 0.48%.
Most major cryptocurrencies by market cap are trading mixed. Market outperformers include NOM, STO, and HEMI, up by 45%, 45%, and 16%, respectively.
Crypto’s Rules Tighten as US Stall, Canada Targets Political Use, and Brazil Expands Enforcement
A more restrictive global policy environment is taking shape for digital assets. Coin Center says the failure of the CLARITY Act would leave the US crypto industry without durable legal protections, raising the risk of future crackdowns and enforcement-led regulation. Beyond the US, Canada is moving to block cryptocurrency from election-related donations, and Brazil has empowered authorities to seize and liquidate illicit crypto holdings. In prediction markets, Kalshi’s legal fight highlights the growing pressure on event-based trading platforms.
Top stories of the day:
Quick Takeaway:
Coin Center warns that without passage of the CLARITY Act, the US crypto industry could remain vulnerable to future policy reversals, stricter enforcement, and prolonged regulatory uncertainty.
Summary:
Peter Van Valkenburgh argued that the CLARITY Act is important not just for current market structure reform, but for creating durable legal protections against shifts in political leadership and regulatory priorities. If the bill fails, future administrations could reintroduce more aggressive oversight of crypto firms and developers, especially in areas such as privacy tools, token classification, and intermediary registration. The warning underscores how unresolved legislation continues to leave the industry exposed to enforcement-driven regulation rather than clear statutory rules.
Canada Proposes Ban on Cryptocurrency Donations to Political Campaigns
Quick Takeaway:
Canada’s proposed ban on crypto political donations signals a tougher regulatory stance on digital assets in election financing, reinforcing concerns around transparency, compliance, and influence in democratic processes.
Summary:
Bill C-25 would bar political parties, candidates, and other election-related entities in Canada from accepting cryptocurrency donations, requiring any such contributions to be returned, destroyed, or converted within 30 days. The proposal reflects a renewed effort to tighten oversight of campaign finance rules and suggests that policymakers remain cautious about the role of crypto in politically sensitive areas.
Brazil Enacts Law to Confiscate and Sell Criminal Assets, Including Cryptocurrency
Quick Takeaway:
Brazil’s new asset seizure law expands the government’s ability to target criminal proceeds, including cryptocurrency, highlighting how digital assets are becoming more deeply integrated into modern law enforcement and anti-organized crime efforts.
Summary:
The new legislation allows Brazilian authorities to confiscate and liquidate assets tied to organized crime, with cryptocurrency explicitly included under its scope. By directing recovered funds toward police resources, special operations, and anti-drug initiatives, the law strengthens the state’s enforcement toolkit while signaling a more aggressive approach to criminal activity involving digital assets.
Kalshi Faces Legal Challenges Over Alleged Gambling Violations
Quick Takeaway:
Kalshi’s latest legal dispute highlights growing state-level resistance to prediction markets, underscoring the regulatory uncertainty surrounding whether these platforms are treated as financial products or gambling services.
Summary:
Washington state’s lawsuit against Kalshi adds to mounting legal pressure on prediction market operators, as regulators challenge the legality of their offerings under local gambling laws. By moving the case to federal court, Kalshi is signaling a broader jurisdictional fight over how these markets should be classified and regulated. The case reflects increasing tension between state enforcement and the expanding role of event-based trading platforms in the US.
Market movers:
ETH: $2002.37 (+0.16%)
BNB: $613.83 (+0.30%)
XRP: $1.3367 (-0.12%)
SOL: $82.4 (-0.93%)
TRX: $0.3199 (+2.43%)
DOGE: $0.09107 (+0.05%)
U: $1.0006 (+0.01%)
WLFI: $0.0984 (+1.13%)
BCH: $483.8 (+1.15%)
XAUT: $4488.6 (-0.15%)