U.S. Government Shutdown Threatens Crypto Legislation Progress
- Congress must pass a budget bill by September 30, or face a government shutdown.
- A shutdown could delay critical market structure legislation, with a planned Senate Banking Committee markup pushed to late October.
- Senator Kirsten Gillibrand emphasized the importance of bipartisan negotiations over artificial deadlines for crypto policy.
- Regulators like the SEC and CFTC may halt non-critical rulemaking efforts during a shutdown, but ongoing public comment phases could continue.
The impending U.S. government shutdown poses challenges for cryptocurrency market structure legislation, with potential delays in committee actions and negotiations. A bipartisan approach remains crucial as lawmakers navigate budgetary concerns alongside crypto policy development.
With the Senate Banking Committee’s markup hearing now delayed to late October, the chances of passing significant crypto legislation this year are diminishing rapidly.(Source)
