State of Crypto: The Government Shutdown Nears a Record

The U.S. government shutdown that began on October 1, 2025, is on track to become the longest in history, potentially affecting the progress of crypto legislation. The current shutdown has already caused Congress to miss several deadlines for passing crucial legislation, including a markup hearing on market structure legislation originally targeted for mid-October. With the year-end approaching, Congress's focus may shift toward other priorities, such as the National Defense Authorization Act. Despite this, there remains some optimism that stalled crypto legislation might still move forward, particularly with the Senate Agriculture Committee's draft market structure bill potentially leading to a markup around Thanksgiving. However, the ongoing shutdown complicates these efforts and reduces the available time for addressing legislative issues. Additionally, political dynamics may change quickly, influencing negotiations and the potential for compromise as surrounding issues, like healthcare demands, evolve alongside the shutdown.

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