The shutdown of the US government last week may not have completely disrupted the progress of cryptocurrency legislation, but according to industry insiders, it has undoubtedly played a negative role.
Thousands of employees have been furloughed and federal agencies have been severely curtailed as Congress fails to reach an agreement on government funding, sending the government into its second week of shutdown. The chaos comes as lawmakers on the Senate Banking Committee are deep in the process of drafting a bill aimed at comprehensively regulating the crypto industry, which plans to clarify the regulatory authority of digital assets between the CFTC and the SEC.
While the Senate Agriculture Committee, which has oversight of the CFTC, has yet to release their version of the bill, federal agency staff typically play a crucial advisory role in the drafting of legislation.
However, with many staff furloughed, Kristin Smith, president of the Solana Policy Institute, said it was "probably the biggest setback right now" as the shutdown prevented them from continuing to work.
The US government shutdown has complicated the progress of the Cryptocurrency Market Structure Act
2025-10-08 00:28:22
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