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 crypto legislation’s chances of becoming law in the near future.
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The story
The US government shut down on October 1, 2025 after Congress was unable to reach an agreement to continue funding it. The longest shutdown in U.S. history lasts 35 days – if the current shutdown lasts until Wednesday, it will break that record.
Why it matters
Crypto legislation was almost at a standstill before the government shutdown, but the longer the shutdown lasts, the weaker the prospects for implementing the legislation.
Break it down
The ongoing shutdown means that Congress has already missed several of its self-imposed deadlines for passing legislation – the most recent being the tentative Oct. 20 deadline for a markup hearing on market structure legislation. Time is running out to move other pieces of legislation forward.
As the end of the year approaches, Congress will have priorities other than crypto to address, said Ron Hammond, Wintermute’s head of policy and advocacy, who cited the annual National Defense Authorization Act — a must-win military spending bill — as an example.
However, he said there was still optimism in Washington, D.C., that crypto legislation, stalled toward the end of summer, would see some movement. The next thing to watch could be the Senate Agriculture Committee’s Market Structure bill, as it could signal where the entire legislative package could go.
If reactions to the plan are positive, lawmakers could quickly move toward a markup hearing around Thanksgiving and vote soon after.
A complicating factor is the closure. The longer this lasts, the less time Congress has to deal with these various legislative issues.
Another person familiar with DC politics told CoinDesk on Thursday that there was a rumor that Democrats might drop their demands for lower health care premiums over the next week due to the Trump administration’s refusal to distribute Supplemental Nutrition Assistance Program benefits to recipients during the shutdown. Two federal judges on Friday ordered the administration to resume benefits anyway.
If that happens, this individual also said there could be a markup by Thanksgiving — but if Democrats are forced to give in to their demands regarding the shutdown, they might be less willing to compromise on market structure legislation.
Next week will also be another election, where voters will choose a number of statewide ballot initiatives for representatives, mayors and governors of the states of Virginia and New Jersey.
Tuesday
- 3:00 p.m. UTC (10:00 a.m. 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 Tuesday by the panel of three judges. This hearing is expected to be streamed on the court’s website.
THURSDAY
- 4:00 p.m. UTC (11:00 a.m. ET) Samourai Wallet developers Keonne Rodriguez and William Lonergan Hill will be sentenced after pleading guilty each to one count of conspiracy to operate an unlicensed money transmitting business in July.
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