The current US government shutdown is already the second longest in the country’s history and could break the record for longest duration next week. This is not promising for the chances of cryptocurrency legislation becoming law in the near future.
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the narrative
The United States government shut down on October 1, 2025 after Congress could not reach an agreement to continue funding it. The longest shutdown in US history is 35 days; If the current one lasts until Wednesday, it will break that record.
Why is it important
Cryptocurrency legislation has been largely at a standstill since before the government shutdown, but the longer the shutdown lasts, the lower the prospects for the legislation moving forward.
breaking it
The current shutdown means that Congress has already missed several of its self-imposed deadlines for passing legislation; the most recent is a tentative Oct. 20 deadline for a hearing on market structure legislation. Time is beginning to run out to pass other laws.
As we approach the end of the year, Congress will have other priorities besides cryptocurrencies to deal with, said Wintermute Chief Policy and Advocacy Officer Ron Hammond, who pointed to the annual National Defense Authorization Act, a military spending bill that must pass, as an example.
However, he said there was still optimism in Washington, D.C. that cryptocurrency legislation that stalled near the end of the summer will see some movement. Next to watch may be the Senate Agriculture Committee’s market structure bill, as it could indicate where the overall legislative package may go.
If the response to that draft is positive, lawmakers could quickly head to a review hearing around Thanksgiving and vote soon after.
A complicating factor is the closure. The longer it lasts, the less time Congress will have to address these different legislative issues.
Another individual familiar with the politicking in DC told CoinDesk on Thursday that there is a rumor that Democrats may drop their demands to ensure lower healthcare premiums over the next week due to the Trump Administration’s refusal to distribute Supplemental Nutrition Assistance Program benefits to beneficiaries during the shutdown. Two federal judges on Friday ordered the administration to resume the benefits anyway.
If this happens, this individual also said there could be an opening for Thanksgiving, but if Democrats are forced to compromise on their demands around the shutdown, they may be less willing to compromise on market structure legislation.
Another election will also be held next week, in which voters will choose a series of state-level ballot initiatives, representatives, mayors and governors in the states of Virginia and New Jersey.
Tuesday
- 15:00 UTC (10:00 am ET) The Second Circuit Court of Appeals will hear Sam Bankman-Fried’s team’s appeal of his conviction and 25-year sentence. His case will be the second heard by the three-judge panel on Tuesday. This hearing must be streamed on the court’s website.
Thursday
- 16:00 UTC (11:00 am ET) Samourai Wallet developers Keonne Rodriguez and William Lonergan Hill will be sentenced after pleading guilty to one count each of conspiracy to operate an unlicensed money transmission business in July.
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