Today in crypto, Nevada blocked Kalshi from offering some contracts in the state for 14 days, Brazil’s new finance minister put crypto tax policy on hiatus, and an early Ethereum whale who once held around $537 million in crypto assets at the 2021 market peak began rebuilding his ETH stack.
Nevada judge temporarily blocks Kalshi
A Nevada judge temporarily blocked Kalshi from operating in the state on Friday, issuing a temporary restraining order that banned Kalshi from offering sports, election and entertainment-related event contracts.
Carson City District Court Judge Jason Woodbury sided with the Nevada Gaming Control Board with his order, finding that state authorities are reasonably likely to prevail in a legal fight over whether the company’s event contracts violate Nevada gambling laws.
The order comes after a federal appeals court on Thursday denied an emergency request by Kalshi to stay a federal court proceeding in a case filed by the Nevada Gaming Control Board that asserted Kalshi needed to be licensed by the US state in order to offer its sports event contracts there.
Kalshi had argued that its contracts are under the exclusive jurisdiction of the Commodity Futures Trading Commission, but Judge Woodbury rejected the argument, saying that “the question of federal preemption in this regard is nuanced and rapidly evolving.”
A hearing is scheduled for April 3 to consider a motion for preliminary injunction against Kalshi.
Brazil’s finance minister puts crypto tax consultation on pause
Brazil’s Finance Minister, Dario Durigan, is putting crypto tax policy on hiatus until after the October 2026 presidential election to avoid raising contentious policy issues during an election year.
Government officials in the country planned a public crypto tax consultation later this year, but will now postpone the public comment period, according to Reuters, which added that proposals and negotiations on new tax policies may not be implemented until 2027.
Brazil ranks number five globally in terms of crypto adoption, according to Chainalysis, and the South American country boasts a population of over 213 million people, according to data from Worldometer.
Early Ethereum whale rebuilds stack with $19.5 million in ETH buys
An early Ethereum wallet known as thomasg.eth is steadily rebuilding his exposure, according to Arkham Intelligence data.
Arkham data shows that, over the past week, thomasg.eth built a roughly $19.5 million Ether
(ETH) position across Arkham-tracked wallets in spot, wrapped ETH (WETH), and Aave-deposited ETH, capped by a fresh $3 million purchase on March 20.
Arkham said the wallet held around $537 million in crypto assets at the 2021 market peak, and has started accumulating again as ETH trades around 56% below its all-time high of $4,946 on Aug. 24, 2025, according to CoinGecko.
The purchases came as US spot Ether exchange-traded funds posted a third straight trading day of net outflows. Data compiled by Farside Investors shows the funds recorded $55.7 million in net outflows on March 18, $136.4 million on March 19 and $42 million on March 20.
