As the United States faces its longest government shutdown in history, Senate lawmakers continue to work on the Digital Asset Market Structure Bill. The legislation aims to establish a clear regulatory framework for the crypto industry. Reports indicate that discussions are ongoing, suggesting that the shutdown has not derailed progress on the measure.
In brief
- Senate lawmakers continue to work on the digital asset market structure bill even as the United States faces its longest government shutdown in history.
- Senators Booker and Boozman are expected to speak with White House crypto and AI advisor David Sacks to advance the bill.
- Market forecasts show uncertainty around the end of the shutdown, which could affect the speed of progress on the crypto bill.
Discussions in the Senate continue in the middle of a shutdown
According to Politico, citing sources familiar with the matter, Senate Agriculture Committee Chairman John Boozman and Senator Cory Booker were expected to hold a call with White House crypto and AI advisor David Sacks. This call was intended to advance the Agriculture Committee's work on finalizing its section of the crypto market structure legislation.
The committee, which oversees matters related to the Commodity Futures Trading Commission (CFTC), is reportedly close to completing its project. Boozman mentioned that the project could be ready soonwith staff aiming for a Friday release, but the timeline could extend beyond that.
Progress and challenges for crypto legislation
Although the bill is considered a major step for crypto regulation, its journey has encountered some obstacles. After passing the House of Representatives in July, many expected it to advance through the Senate with bipartisan support. However, progress has slowed, with Democrats pushing for clearer rules governing decentralized finance. Additionally, the ongoing government shutdown has added an extra layer of difficulty, making it harder for lawmakers to advance the measure.
These challenges have also raised questions about the bill's timing. North Carolina Republican Sen. Thom Tillis noted last week that Congress has until early next yeararound January or February, to approve crypto legislation before the 2026 midterm elections bring additional hurdles.
So what are other lawmakers saying about the market structure bill? Some senators shared their views on its progress and the challenges it faces.
- Sen. Cynthia Lummis of Wyoming, the bill's advocate on the Senate Banking Committee, said her team is working daily to build support and bipartisan negotiations are moving steadily forward, although passage of the bill this year appears unlikely.
- Separately, Senator John Kennedy described the bill as one of the most complex legislative texts that he has seen and said he remains cautiously optimistic about its progress.
Crypto Market Bill Faces Shutdown Uncertainty
In addition to the senators' perspectives, other experts commented on the obstacles facing the bill. Patrick Witt, executive director of former US President Donald Trump's Council of Digital Asset Advisors, said the current government shutdown has created some challenges in the legislative process.
He explained that while lawmakers had more time to engage due to fewer meetings, the absence of agency staff limited the availability of the specialized knowledge needed to fully consider the proposal.
Furthermore, Polymarket data shows that traders are uncertain about when the government shutdown will end. Current estimates suggest a 50% chance of it ending by November 15, with expectations rising for later dates: 91% predict resolution by November 30, 96% by December 31, and almost all at 99% by January 31, 2026. If the shutdown continues, it could further slow progress on the crypto market structure bill.
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