Here’s what happened in crypto today

Today in crypto, crypto industry professionals say US regulation must clarify banking and stablecoins before focusing on taxes, a video of Vitalik Buterin interacting with a robot has caught the crypto industry’s attention, and the Kalshi prediction market filed lawsuits against gaming regulators in New Jersey and Nevada.

Stablecoin rules needed in US before crypto tax reform, experts say

United States cryptocurrency regulations need more clarity on stablecoins and banking relationships before lawmakers prioritize tax reform, according to industry leaders and legal experts.

“In my view, tax isn’t necessarily the priority for upgrading US crypto regulation,” according to Mattan Erder, general counsel at layer-3 decentralized blockchain network Orbs.

A “tailored regulatory approach” for areas including securities laws and removing “obstacles in banking” is a priority for US lawmakers with “more upside” for the industry, Erder told Cointelegraph.

“The new Trump administration is clearly all in on crypto and is taking steps that we could have only dreamed about a few years ago (including during his first term),” he said. “It seems likely that crypto regulation will be able to have it all and get much more clear and rational regulation in all areas, including tax.”

Still, Erder noted there are limits to what President Donald Trump can accomplish through executive orders and regulatory agency action alone. “At some point, the laws themselves will need to change, and for that, he will need Congress,” he said.

Trump’s March 7 executive order, which directed the government to establish a national Bitcoin reserve using crypto assets seized in criminal cases, was seen as a signal of growing federal support for digital assets.

Vitalik Buterin meows at a robot, and the crypto world loses it

A video of Ethereum co-founder Vitalik Buterin kneeling in front of a robot and seemingly letting out a “meow” sound has gone viral — and, as usual, the crypto industry is already speculating what it might mean for Ether’s future.

“The future of Ethereum is in this man’s hands… Meow,” crypto influencer Wendy O said in a March 29 X post. Cork Protocol co-founder Phil Fogel shared the video and commented that “so much” of his professional life and net worth depend on Buterin but reiterated that the entertaining interaction makes him “bullish.”

Source: Rinor

Pseudonymous crypto trader Scott Crypto Warrior shared the video with his 514,300 X followers and said, “Pray for our ETH bags.” 

The short clip shows Buterin on his knees, gesturing at a four-legged robot and letting out what sounds like a “meow” before patting it on the head. At the time of publication, Buterin has yet to address the video on social media himself.

Kalshi prediction market files lawsuits against gaming commissions in two US states

Kalshi, the onchain prediction market, has filed a lawsuit against gaming regulators in the US states of Nevada and New Jersey after both states sent cease and desist orders for Kalshi to pause its sports event contracts.

Additionally, the Nevada Gaming Control Board issued a cease and desist order for Kalshi’s election event contracts. The contracts gained popularity during the 2024 elections in the United States.

Kalshi lawsuit against Nevada Gaming Control Board. Source: Kalshi

The platform’s team argued that Kalshi’s event contracts, which are two-sided markets trading through swaps, are distinct from sports betting or other types of gambling that rely on the book method controlled by a gaming house.

Moreover, Kalshi contends that state-level regulators have no legal jurisdiction over the platform, which is regulated by the United States Commodity Futures Trading Commission (CFTC).