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Public Citizen’s analysis of FEC filings found record corporate political donations of $646 million over 18 months. Crypto led sectors with $206 million, while crypto, AI and online betting together spent $344 million.
Stablecoin reserves under GENIUS cover debt maturing within 93 days, while the US Treasury expands liquidity buybacks for 10- to 30-year debt. CryptoSlate reports the short-term funding channel cannot resolve a $28 billion long-bond problem.
A proposed Treasury change to the GENIUS framework would require US exchanges to conduct reasonable diligence before relying on foreign stablecoin issuers, with noncompliant platforms potentially facing delisting obligations. Comments remain open through Oct. 19.
A crypto trade group says extending KYC requirements to peer-to-peer stablecoin wallet transfers would “cripple the industry,” as regulators implement the GENIUS Act.
