Fairshake, a cryptocurrency-backed political action committee, said it spent more than $130 million on media buys for the 2024 general election and still has $193 million in campaign funds available as the November 2026 midterm elections approach. Separately, Fellowship PAC said it has raised more than $100 million and named Tether executive Jesse Spiro as its chair.

A proposed SEC "safe harbor" framework for crypto is now headed for review at the White House, according to Atkins. He said the agency expects to release the proposal "shortly."

A U.S. appeals court has handed Kalshi a major legal win, ruling that New Jersey cannot apply state gambling laws to the company's sports-related event contracts. In a 2–1 decision, the U.S. Court of Appeals for the Third Circuit said the Commodity Futures Trading Commission (CFTC) has exclusive jurisdiction over the contracts, characterizing them as swaps traded on a CFTC-licensed platform. Judge David Porter wrote that federal oversight controls in this area, and the panel upheld a preliminary injunction that had already halted New Jersey's cease-and-desist order. The ruling is notable as the first federal appeals court decision to squarely address whether prediction-market contracts are governed by federal financial regulation or by state gambling regimes. The decision was not unanimous. Judge Jane Richards Roth dissented, arguing Kalshi's products function as sports betting and are not transformed into futures-like instruments merely through registration and labeling. Reuters reported that Roth said the offerings were "virtually indistinguishable from the betting products available on online sportsbooks." New Jersey is considering its next steps. Reuters reported the state could seek a rehearing by the full Third Circuit. Similar conflicts involving prediction markets and state gaming regulators are also playing out in Nevada, Massachusetts, Arizona, Connecticut, and Illinois. For Kalshi, the Third Circuit ruling strengthens its nationwide case that the CFTC—and not state regulators—sets the rules for these markets. The CFTC has supported the company's federal position in other litigation, and the new appellate decision adds weight to that argument. The wider legal fight remains active across multiple jurisdictions and could ultimately reach an en banc review or the U.S. Supreme Court. Related: CFTC Takes Three States to Court Over Prediction Market Control Disclaimer: The information presented in this article is for informational and educational purposes only and does not constitute financial advice. Coin Edition is not responsible for any losses arising from the use of content, products, or services mentioned. Readers should exercise caution before taking any action related to the company.

Rwanda's National Bank on Sunday restated that crypto remains prohibited, just hours after Bybit launched Rwandan franc (FRW) trading pairs on its P2P platform on Friday without regulatory approval. In a post on X, the central bank said cryptoassets are not authorized for payments, FRW conversion, or P2P transactions involving FRW. It also said licensed financial institutions are barred from converting FRW into crypto or crypto into FRW, warning of "serious financial risks" and no recourse in the event of losses. Rwanda has maintained restrictions on crypto since 2018 and recognizes the FRW as the country's sole legal tender. At the same time, the authorities are developing a central bank digital currency, the efranc rwandais, now in proof of concept, and the Capital Markets Authority's bill to license virtual asset service providers (VASPs) cleared parliament on March 31. The signal to the market: a regulated framework is welcome, unauthorized exchange access is not.

The New York Times reported that Argentine President Javier Milei made seven phone calls with crypto lobbyist Mauricio Novelli on the night he promoted the LIBRA token on X in February 2025. Federal investigators have listed Milei as a person of interest. LIBRA briefly reached a $4.6 billion market capitalization before plunging 90%. A forensic review of Novelli's phone found a draft agreement referencing a $5 million payment tied to Milei's endorsement, records indicating monthly payments to Milei dating back to 2021 that doubled after he became president, and WhatsApp messages that referenced payments to his sister, Karina. Milei's administration later dissolved the investigative task force examining the scandal. A congressional committee concluded Milei provided "essential collaboration" to the project. Blockchain data indicated eight wallets linked to LIBRA cashed out $107 million, while about 114,410 investor wallets recorded losses. Milei denies wrongdoing.

Rwanda's central bank has urged the public to steer clear of "cryptoassets," warning they carry serious financial risks and offer no recourse if funds are lost. The advisory comes as Rwanda's fiat currency has fallen about 60% since 2010.

Senator Bill Hagerty said the Senate Banking Committee could advance a crypto market structure bill as early as April.

The New York Times reports that Argentine President Javier Milei had direct contacts with figures behind the controversial LIBRA crypto project in the hours surrounding the token's launch. According to forensic phone records cited by the paper, Milei and lobbyist Mauricio Novelli exchanged seven calls on the launch night, before the token was officially promoted on X. LIBRA briefly surged to a market capitalization above $4 billion before plunging roughly 90%. On-chain data reviewed in connection with the case indicates eight wallets considered strategic cashed out about $107 million near the peak. The episode is now at the center of a federal investigation in which Milei has been listed as a "person of interest." An Argentine congressional commission, probing a suspected $5 million arrangement tied to the token's promotion, described the president's role as "essential collaboration." Milei has denied wrongdoing, saying his social-media posts were personal rather than official. Local outlet El Destape has reported the existence of documents suggesting a multimillion-dollar pact related to advertising for the token, intensifying scrutiny over public ethics and the influence of political promotion on memecoin markets. The government has also dissolved a task force created to examine the scandal, days after a court ordered bank secrecy lifted on accounts linked to the president and his inner circle. The LIBRA case has emerged as a major legal and political test for the administration, combining extreme market volatility with questions of institutional accountability to investors.

A federal appeals court has blocked New Jersey from moving to shut down Kalshi's sports-related prediction markets. The U.S. Court of Appeals for the Third Circuit held that the Commodity Exchange Act preempts state gambling statutes, preventing New Jersey from pursuing enforcement action against the platform. Reported by Nikhilesh De.