In April 2025, controversial policies that could affect the outcome of the April 28th Canadian elections witnessed a shaking effect on the crypto market as tariffs increased in the direction of US President Donald Trump.
On April 2nd, Trump imposed “discount equivalent tariffs” on 185 countries and territory. Dow Jones Industrial Average fell 2,200 points on April 4, but the S&P 500 dropped its biggest drop since March 2020 by nearly 6%.
Ethereum’s blockchain adoption metrics look great as the network boasts a 60% real world asset (RWA) tokenization value. Major companies like BlackRock are sure blockchain will become the standard for RWA, but other observers believe scaling issues can cause problems.
On policy issues, custody lawmakers from many states in the US are pushing their own bills. Two states introduced new laws in April. In Canada, pro-cryptic conservatives have lost to the Liberal Party, but the winners must form minority governments.
This is April.
“Rebate Day” will cause the market to plummet, with Bitcoin increasing by 16% that month
On April 2, the US President imposed retaliatory tariffs on all US trading partners and sent Wall Street into the spiral. Between the announcement after the market closed and the closing of trading on April 8th, Global Market wiped out its asset value of more than $8.5 trillion. By the same date, the S&P 500 had fallen just north of 12%.
Market values ​​have since returned to their upside as some countries are bringing the Trump administration to trial, seeking tariff relief, but key partners such as China are still not upset. The market has recovered slightly, but the losses remain at $1 trillion, according to investment manager AJ Bell.
I also saw the loss. Bitcoin prices fell 9% from April 8th, starting with the release date announced. However, unlike stock markets where losses are still being seen, Bitcoin was able to close months higher than where it started. At the time of writing, BTC is trading at $94,729, up 16.16%.
Canadian crypto-skeptic liberals win, but have not reached a majority
Canadian Prime Minister Mark Carney claimed victory in the country’s parliamentary elections on April 28th.
Despite their victory, the liberals secured 169 seats. This took three seats out of the 172 needed to form a majority. A small number of Liberal governments means they must resort to other parties for legislative initiatives.
The results make sense for Canadian crypto policy. Former central banker, Carney has been public about his skepticism about cryptocurrency. When serving as governor of the Bank of England, Carney said “they are failing” in the form of money. He also seeks “equal protection with commercial bank money” for private stubcoins.
Related: What Canadian New Liberal Prime Minister Mark Kearney means for the code
At the same time, Kearney shows his openness to digital forms of money and ledger capabilities in blockchain technology. He expressed his support for the central bank’s digital currency, viewing it as another step in the evolution of money.
The Liberal Party began a year in which former Prime Minister Justin Trudeau took over the delays of conservatives. On Trump’s inauguration day, conservatives voted for 21% of the Liberal Party with an average vote of 44%.
The conservative rhetoric, including that of Procrypto Party leader Pierre Poilierble, was clearly a pro-trump. The connection could have returned to conservatives, and soon after taking office, he said Canada should become America’s 51st state, whilst strengthening tariffs on Canadian goods.
RWAS’s Ethereum market share is up 20%
Tokenization of real world assets (RWAS) was one of the rising use cases for blockchain technology in April. Ethereum is leading the way, with the value of RWA tokenization on the network increasing to $6.2 billion. This shows an increase of 20% in April.
RWA is increasingly adopted by established financial companies that launch tokenization pilot projects with real estate, gold and other goods, as well as carbon credits. Larry Fink, CEO of BlackRock, the world’s largest fund manager, points out that tokenized RWAs allow for immediate transactions and transfers like “digital certificates.”
Related: 5 Reasons RWAS Takes Off in 2025
As reported in Cointelegraph Magazine, Ethereum advocates and developers generally assume that Ethereum is a logical choice for companies exploring RWA. In fact, Fink said, “There’s no doubt that the blockchain that starts to tokenize is Ethereum. It’s not just blacklock. That’s the natural default answer.”
Two new cryptography introduced at the US state level
Two states, Texas and Georgia, introduced new blockchain-related and crypto-related bills in the state legislature in April.
In Texas, HB 5352 establishes the state’s blockchain technology pilot program by the Department of Information Resources. The pilot aims to see how blockchain technology can improve “transparency, security and efficiency in government operations.”
In Georgia, HR 905 aims to “run a grade level K-12 public awareness campaign on blockchain, cryptocurrency, and Web3.” The bill states that technological literacy is important for all ages, and that “blockchain calculations represent the future of how the world interacts online and share information through a permanent record of open ledger transactions.”
In Arizona, Democratic Gov. Katie Hobbs rejected a bill that expands the state’s regulated sandbox program to include digital assets. However, she signed the bill, enacted it, and now the town “prohibits or restricts individuals from using their computing power or running blockchain nodes in their own homes.
The definition of “calculation power” in law can be broadly interpreted to mean AI, scientific research, blockchain activity, and cloud computing. Effectively protects home cryptominers from local and city zoning laws and bans.
Stablecoin adoption will increase $4 billion in April
Stablecoins has grown steadily in 2025, and April was no exception. According to Coinglas, Stablecoins’ market capitalization increased by $4 billion in April.
As many jurisdictions develop legal frameworks for their assets and ease their regulatory approaches, the ridiculous value has increased.
In the US, the Stablecoins House bill passed a key committee vote on April 2nd. The stable law provides rules regarding the issuance and reserves of Stablecoin and proceeds to the floor for a vote.
Related: Stablecoin adoption grows along with the new US bill, Japan’s public approach
The Securities and Exchange Commission dropped its lawsuit against PayPal USD (PYUSD), PayPal’s Stablecoin, on April 29th.
According to Crypto Intelligence Platform Intotheblock, market volatility offers another incentive for stable growth. According to the analytics company, these assets are increasingly considered “safe shelters in the current uncertain market.”
As the Trump administration marks its first 100 days, the market is seeking bailouts, but no one seems to be approaching. Despite allegations from the White House, China says there is no high-level consultation on negotiating tariffs.
Nevertheless, some observers argue that they should look to awards, at least for the sake of cryptography. The regulatory framework passes through the US Congress.
Magazine: Your ai ‘digital twin’ can take meetings and comfort your loved ones
