Canada is moving closer to banning political donations made in cryptocurrency, as lawmakers in Ottawa tighten rules around how money flows into elections.That’s after a proposed law — Bill C-25, the Strong and Free Elections Act — passed a second reading in the House of Commons on Friday. The vote signals that lawmakers support the bill in principle and will now study it in detail at committee, where amendments can still be made.The legislation would prohibit political parties and candidates from accepting cryptocurrency donations, closing what regulators see as a gap in campaign finance rules.First introduced on March 26, the bill is a broader overhaul of election laws aimed at strengthening transparency, tightening enforcement and reducing the risk of foreign interference. As Cointelegraph previously reported, crypto donations became a focal point due to concerns over traceability and compliance with existing limits.While the bill is not solely focused on digital assets, it explicitly includes crypto in its restrictions on political financing.There is no fixed date yet for when Bill C-25 will be taken up in committee.An excerpt from Bill C-25. Source: Parliament of CanadaRelated: Canada’s bid to ban crypto donations highlights transparency issuePolitical ban comes amid Canada’s crypto embraceThe proposed ban comes as cryptocurrencies and blockchain infrastructure become more embedded in Canada’s financial system.Regulators have advanced stablecoin frameworks that would give oversight powers to the Bank of Canada, while also refining rules for crypto investment funds, custodians and cold storage practices.Canadian lawmakers have identified several potential benefits of a national stablecoin framework. Source: Government of CanadaThis shift is unfolding under Prime Minister Mark Carney, a former central banker who has previously expressed skepticism about cryptocurrencies. Despite that stance, policymakers are moving toward a more defined regulatory structure that integrates digital assets into the financial system while imposing tighter limits on their use in sensitive areas such as elections.Related: Deloitte, Stablecorp plan stablecoin infrastructure for Canadian institutionsCointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

Tennessee Governor Bill Lee has signed a bill into law that will officially ban the use and installation of cryptocurrency ATMs and kiosks in the southeastern US state, leaving only a matter of weeks for companies to be in compliance.Lee signed Tennessee House Bill 2505 into law on April 13, making the installation of a cryptocurrency kiosk a Class A misdemeanor starting on July 1. The reclassification of the machines as illegal under state law would potentially put operators and businesses hosting the machines at risk of up to 11 months and 29 days in prison and a $2,500 fine. Source: Tennessee General AssemblyAccording to data from CoinATMRadar, there were more than 570 crypto kiosks and ATMs as of Monday, with operators including Bitcoin Depot and CoinFlip. Cointelegraph reached out to a Bitcoin Depot spokesperson for comment but did not receive an immediate response. The kiosk operator’s Nasdaq-traded shares closed down about 6.9% on Monday, according to Yahoo Finance.The Tennessee law is just one of many state-level actions in the US targeting crypto kiosks in response to its residents being the victims of scams and other illegal activities. A Massachusetts town banned the machines earlier this month, and Minnesota’s State Senate recently advanced a bill that could ban crypto kiosks across the state. Related: Massachusetts city to weigh crypto ATM ban, citing financial risks“Virtual currency kiosks have become a gateway for scammers to exploit Tennesseans, especially our seniors, with little hope of recovering their money once it’s gone,” said Tennessee House Speaker Cameron Sexton, who sponsored the bill.FBI reported Americans lost $11B to crypto scams in 2025The US Federal Bureau of Investigation (FBI) said that cryptocurrency and AI-related scams were “among the costliest” for Americans in 2025. Its annual internet crime complaint report released in April cited more than 13,000 complaints related to crypto ATMs and kiosks last year, resulting in more than $389 million in losses.Some of the types of scams involving ATMs include tricking people into sending Bitcoin (BTC) or other cryptocurrencies to an address by pretending to be a family member in need of assistance, or an authority figure claiming the individual needs to send money to avoid arrest or pay off a debt. Magazine: AI-driven hacks could kill DeFi — unless projects act nowCointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

BitMine Immersion Technologies, the Ether treasury company backed by Fundstrat’s Tom Lee, has expanded its ETH holdings for the second time in as many weeks, even as large unrealized losses underscore the strategy’s risks.The company said Monday it purchased an additional 101,901 Ether last week, bringing its total holdings to roughly 5.08 million ETH. Its combined crypto and cash reserves now stand at about $13.3 billion.Source: Wu BlockchainThe latest acquisition follows a purchase of 101,627 ETH a week earlier, which was the company’s largest accumulation since December.Despite the aggressive buying, BitMine is sitting on more than $6.5 billion in unrealized losses, based on total investments of approximately $17.6 billion, highlighting the impact of recent volatility in Ether prices.The share price of the NYSE-listed BMNR stock is down more than 20% year-to-date, according to Yahoo Finance data.Still, the company is generating yield on a portion of its holdings. BitMine has staked roughly 3.7 million ETH, allowing it to earn rewards for helping secure the Ethereum network and validate transactions, a strategy that provides a steady income stream even during price downturns.BitMine’s unrealized losses on its ETH treasury have topped $6.5 billion. Source: DropstabRelated: Crypto Biz: Same players, bigger bets as crypto eyes a reboundEther, crypto markets show signs of stabilizationBitMine’s large purchases come as the broader crypto market shows early signs of stabilizing after months of declines through March.Ether rebounded above $2,400 last week after falling to a low near $1,800 earlier this year, according to TradingView data. Despite the recovery, the second-biggest crypto by market cap remains down roughly 23% year-to-date.The rebound mirrors a broader uptick across equities and other risk assets in recent weeks, suggesting improving investor sentiment.However, the volatility underscores the challenges facing crypto treasury players. Companies that accumulate large digital asset reserves are highly exposed to price swings, which can lead to significant unrealized losses during downturns, even as they continue buying. While strategies like staking can generate yield, they often do little to offset large drawdowns in asset value, leaving balance sheets sensitive to market cycles.Related: Michael Saylor’s Strategy adds 3.2K Bitcoin at nearly $78K per BTCCointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

The European Commission announced a package of crypto-related sanctions against Russia in response to the country’s military actions against Ukraine.In a Thursday notice, the commission said the sanctions targeted Russia’s energy and financial sectors, including a “total sectorial ban on carrying out exchanges with any Russian crypto asset service provider as well as any decentralised platforms enabling crypto trading” that could be used to circumvent the measures. The EC, composed of 27 member states in the European Union, also prohibited the use of stablecoins pegged to the Russian ruble and the central bank digital currency (CBDC) under development by the Central Bank of Russia.“This package puts further pressure on Russia to engage in negotiations and do so on terms acceptable for Ukraine,” said the commission. “Every day of further Russian attacks on Ukrainian civilian infrastructure is another day of suffering for the Ukrainian people.”Source: European Commission President Ursula von der LeyenThe sanctions package came after a meeting between European Commission President Ursula von der Leyen and Ukrainian President Volodymyr Zelenskyy discussing the bloc’s support for Ukraine amid ongoing military attacks from Russian forces. According to the commission, Russia was becoming “increasing[ly] reliant on cryptocurrencies for international transactions” in reaction to global sanctions. This has led to measures targeting entities tied to the country using stablecoins like A7A5 and crypto operators linked to Belarus.Related: Russia introduces bill to criminalize unregistered crypto servicesIran sanctions also under scrutiny in USAmid the United States and Israeli military actions against Iran, many lawmakers have been questioning whether the Islamic Republic could be circumventing sanctions using digital assets.Reports last month suggested that Binance fired individuals responsible for telling executives that that exchange facilitated $1 billion in transactions to entities tied to Iran. Magazine: AI-driven hacks could kill DeFi — unless projects act nowCointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.