Bitcoin

The move to classify nicotine as a narcotic signals an expanding regulatory perimeter beyond traditional tobacco, potentially setting a precedent for how other legal but harmful substances are treated. In a macro environment already dominated by fear (F&G 23), any additional regulatory headwinds—even unrelated—can amplify risk-off sentiment and reduce capital flows into high-beta assets like crypto.

A Pacific nation proposes regulating nicotine like a narcotic, citing harms from nicotine-containing vapes.