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Senate Passes 10-Day FISA Extension

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SEC proposal could remove crypto from OTC reporting requirements

The Senate passed a 10-day FISA extension 2026 by voice vote Friday, keeping the surveillance program alive until April 30 after a bloc of 20 House Republicans overnight derailed both a five-year and an 18-month renewal that Speaker Johnson and the White House had spent a week negotiating.

Summary

  • Section 702 of the Foreign Intelligence Surveillance Act was set to expire Monday; the Senate’s rare Friday session approved the stopgap, sending the measure to Trump for signature.
  • A 10-day extension was the last resort after the House failed 197-228 on a procedural vote for the 18-month plan, following an earlier collapse of a five-year extension with revisions.
  • Trump had lobbied hard all week for a clean long-term renewal, posting on Truth Social urging Republicans to “UNIFY” and calling FISA vital to the Iran war campaign.

The Senate cleared a FISA extension 2026 stopgap by voice vote Friday morning, buying Congress until April 30 after an all-night collapse on Capitol Hill left two separate long-term renewal attempts in ruins. The measure goes to President Trump for signature before the program’s Monday expiration.

Section 702 allows US spy agencies including the CIA, NSA, and FBI to collect foreign communications without a warrant, including those of Americans in contact with targeted foreigners. Intelligence officials have called it the single most important national security tool the country has. “FISA is the single most important national security asset we have in the intelligence field,” said Sen. Angus King of Maine, a member of the Senate Intelligence Committee. “It constitutes a very high percentage of the president’s daily brief.”

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Johnson entered Thursday evening believing a deal was in hand. Shortly before midnight, GOP leaders unveiled a revised five-year extension designed to win over privacy hawks. It failed. They then tried an 18-month clean renewal that Trump had demanded. That failed 197-228 on the procedural vote, with 20 Republicans joining most Democrats in opposition.

At 2:09 AM Friday, the House passed the 10-day stopgap by unanimous consent. The Senate convened a rare Friday session hours later and approved it the same way.

Trump had pressured Republicans all week through Truth Social posts, CIA Director John Ratcliffe briefed lawmakers directly on Wednesday, and a group of Republicans visited the White House on Tuesday. None of it held the bloc. “We were very close tonight,” Johnson said.

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What Happens Before April 30

The core dispute is straightforward: privacy hawks want the government to obtain a warrant before querying Americans’ communications collected incidentally under Section 702. Intelligence officials say that requirement would cripple the program’s operational value.

The two-week window runs directly into the same compressed legislative calendar that is simultaneously managing the CLARITY Act markup, budget reconciliation, and the FOMC on April 28-29. Johnson will need to either negotiate a bipartisan compromise on warrants or muscle through a partisan solution while holding every non-rebel Republican, a task that looks harder after Thursday’s revolt.

As Rep. Ro Khanna of California put it: “We just defeated Johnson’s efforts to sneak through a 5-year FISA authorization tonight. Now, they will have to fight in daylight.” For the midterm calendar that governs everything in Washington in 2026, fighting in daylight means every Republican privacy hawk’s vote will be on record.

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Crypto World

Circle Launches USDC Bridge For Native Cross-Chain Transfers

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Circle Launches USDC Bridge For Native Cross-Chain Transfers

Stablecoin issuer Circle has launched USDC Bridge, a new user interface built on top of the Cross-Chain Transfer Protocol (CCTP) that seeks to simplify native cross-chain transfers of the USDC stablecoin.

On Friday, Circle’s USDC X account said the bridge allows users to move the USDC (USDC) stablecoin in a “predictable, transparent way,” citing a native burn-and-mint transfer mechanism and no bridge complexities.

Gas fees will be handled automatically, fees will be shown upfront, and live status updates will be provided throughout the transfer, Circle added.

Source: Circle

The USDC Bridge builds on Circle’s CCTP, which was introduced in April 2023 and facilitates hundreds of millions of stablecoin transfers each day.

CCTP eliminated the need for wrapped and synthetic versions of USDC.

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Cross-chain bridges seek to make the broader crypto ecosystem interoperable, functioning as a unified network rather than a collection of fragmented, isolated blockchains.

Making bridges as simple and easy to use as possible has been an area of focus for many crypto infrastructure firms. 

In the past, bridges have confused users and arguably slowed crypto adoption, especially for beginners struggling to navigate bridge interfaces, trade routes and gas fees.

USDC Bridge supports over a dozen blockchains

Cointelegraph found that USDC Bridge supports USDC transfers between at least 17 Ethereum Virtual Machine-compatible blockchains, including Ethereum, Avalanche, Arbitrum, Base, Monad, Optimism, Polygon, Sonic and World Network.

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Related: Ukraine arrests FBI-wanted cybercrime suspect, seizes $11M in assets

Circle’s CCTP supports a broader number of blockchains, including Solana, Sui and Aptos, which are not natively EVM compatible.

On Wednesday, Circle was hit with a class action for failing to freeze around $230 million worth of USDC that moved through its CCTP from the Drift Protocol exploit on April 1.

Circle is accused of aiding and abetting conversion and negligence. 

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More than 100 members are involved in the class action. The law firm representing them, Mira Gibb, is seeking damages, with the final amount to be determined at trial.

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