The same banking coalition that spent months stalling the CLARITY Act over stablecoin yield is back — this time asking the Treasury Department to extend comment periods on three GENIUS Act rulemakings. Their argument: the OCC's framework for policing stablecoin issuers isn't finished yet, so OFAC, FinCEN, and FDIC rules that depend on it shouldn't move forward in parallel. The crypto industry, which fought hard for GENIUS Act passage last year, now faces a slow-roll on the implementation it was counting on.
Kalshi has suspended and fined three political candidates for "political insider trading" after an internal probe found they bet on their own races — the most aggressive enforcement actions the platform has taken against politicians to date. One of the suspended candidates appeared on the reality TV show FBoy Island. The fines range from $539 to $6,229, with five-year platform bans. The crackdown comes as lawmakers from both parties ramp up pressure on prediction markets and the CFTC prepares to take a harder line on enforcement.
Bridges keep getting hacked not because of one-off bugs, but because of a structural problem: they don't independently verify blockchain activity — they outsource it to validator networks, oracle feeds, and external infrastructure that attackers can manipulate. In the Kelp case, the bridge "worked as designed — it just believed the wrong information." Experts say as long as bridges rely on hidden trust assumptions and shared infrastructure, the attack surface will remain. The problem is the architecture, not the audits.
