US government poised to shut down: Will it affect crypto market structure bill?

The impending US government shutdown could significantly delay the Senate's consideration of a crypto market structure bill previously passed by the House. Both parties are under pressure to reach a bipartisan agreement before the shutdown occurs at midnight on Tuesday. If the government shuts down, lawmakers would halt all activity, including voting or discussing any bills, thereby affecting crucial regulatory actions from the SEC and CFTC. A key piece of legislation, known as the Responsible Financial Innovation Act, aims to clarify regulatory roles over digital assets but may face setbacks due to the shutdown. The Senate Banking Committee had already postponed discussions about the bill from the end of September to October, and a shutdown could mean further delays in advancing this legislation. Historical context shows that partisan disputes have led to prolonged shutdowns in the past, creating a challenging environment for non-essential legislative work like crypto regulation.

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