Part of the Crypto momentum in Washington DC blocked a situation that could worsen if the US government is stopping next week.
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The story
The US government seems to go towards a closure. Although this does not directly affect the crypto, the reverberations of the government closure will affect the development of policies in the world of cryptography.
Why it matters
There are three major questions with regard to market structure legislation: will Congress adopt a bill; When the congress could adopt a bill; And how will a government closure affect this process?
Beyond the simple congress, a closure could affect regulatory regulators for regulators, although this is not such a important problem at the moment (according to, of course, the duration of the closure).
Decompose it
Congress has until September 30, 2025 – in other words, Tuesday – to adopt a budget bill, or at least a continuous resolution which would continue to finance the government. The Republicans control the White House, the House of Representatives and the Senate, but they still need democratic support to advance a budget bill. The head of the Senate minority, Chuck Schumer, and the head of the House minority, Hakeem Jefferies, seemed ready to meet and negotiate with President Donald Trump, but Trump canceled the meeting earlier this week. And Friday, Punchbowl News reported that the management of the House of Representatives may not bring the body back to session before the Senate passed a bill.
A closure will probably slow down the progress of legislation on the structure of the cryptographic market. The chances that the market structure pass through the Congress and the President’s office this year already become thin even without the threat of imminent closure, according to several people I spoke this week. An audience of increase provided for the bill of the Senate Banking Committee was pushed from its provisional date from September 30 to the end of October, and the Senatorial Agriculture Committee has not yet published a bill. Any bill on the structure of the market would need the support of the two committees before going to the Global Senate, then to the House of Representatives.
The individuals said they were still expecting to see the progress of next year, if the congress was unable to move the market on the structure of the market through the Senate and the Chamber before December 31.
These chances, however, become thinner in the face of a closure. Locking the federal government is often corrected with rapid and short -term expenditure agreements which only push the drama a few weeks or months further and promise future bonds of the Congress.
If the government stops, the Senate committees may have to postpone the plans for a markup, said Jessica Martinez, director of government relations at the Blockchain Association.
“Although there were negotiations in good faith on both sides, a closure would have critical progress on cryptographic policy,” she said in a statement. “Despite a possible delay, our leaders in the congress are determined to obtain legislation on the structure of the bipartite market through the finish line.”
Kristin Smith, the president of the Solana Policy Institute, said that she was optimistic that the legislation would continue to receive bipartisan attention, saying that a closure would be a “backhand, but he is clear [lawmakers] Stay “to adopt a bill on market structure.
Senator Kirsten Gillibrand (DN.Y.), speaking during the Coindesk policy and regulation event at the beginning of the month, has already tried to write the expectations that Congress had to act by the end of September, a deadline previously established by the president of the Banque Committee of the Senate Tim Scott.
“I do not want to put an artificial delay on anything, because we are in the midst of negotiations to know if we are going to have a bipartite budget,” she said. “The most important question that Congress is due to face at the moment is the tax cliff on September 30. It is a much more important deadline on which the whole country counts … I really urge you, please do not give the market structure an artificial deadline, because it is so important for this industry that we obtain this correctly and that we do it on a bipartite basis.”
The luminous point of the cryptography industry can come from regulators. While federal regulators – SECURITIES AND EXCHANGE Commission, Commodity Futures Trading Commission and Treasury Department Entities – will all have to stop everything that is non -critical, a large part of the current regulatory efforts has already been started. Some of these efforts are in the phase of public comments.
Didier Lavallee, the CEO of Canadian Society Tetra Digital, said in a statement that a judgment could affect the order of the President of the SEC, Paul Atkins, “in the medium term”, but the momentum around the development of cryptographic policies still benefits from bipartite support.
“Thus, although there may be short-term delays within political deadlines, it is unlikely that it fundamentally derails long-term progress,” he said.
Monday
- 5:00 p.m. UTC (1:00 p.m. HE) SEC and the CFTC hold a joint round table on September 29, 2025, to discuss their regulatory efforts.
Tuesday
- The requests after the trial in the case of the Ministry of Justice against Roman Storm are due. As a reminder, Storm was found guilty of conspiracy to operate a silver issuer without license last month, but the jury did not condemn him with two other charges.
If you have reflections or questions about what I should discuss next week or any other comment you want to share, do not hesitate to send me an e-mail at nik@PK Press Club.com or to find me on Bluesky @ nikhileshde.bsky.social.
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See you next week!
