The US government shutdown has now entered its 38th day, and the Senate is preparing to vote on a temporary funding bill that could partially restore government operations. According to the Senate calendar for November 7, lawmakers will consider a House resolution to continue funding the government. However, it remains unclear whether this bill will pass the 60-vote threshold required for passage, following several failed attempts in recent weeks.

Digital Asset Regulation Discussion

Amid the shutdown, Republicans and Democrats continue to debate legislation to regulate the digital asset market. The CLARITY Act, passed by the House in July, is intended to lay the groundwork for a comprehensive regulatory framework for cryptocurrencies in the US. Coinbase's CEO called the CLARITY Act a "freight train" for cryptocurrencies, emphasizing its importance to the industry.

Bill Delays

While members of Congress continue to receive salaries during the government shutdown, consideration of any bills, including those related to cryptocurrencies, has been effectively postponed until the budget crisis is resolved. At the time of publication, it remained unclear whether Republicans had secured the support of Democrats, who are pushing to extend healthcare subsidies and repeal the cuts included in the July funding bill.

Cryptocurrency Legislation Prospects

Wyoming Senator Cynthia Lummis, a leading proponent of the market structure bill, previously stated that Republicans intend to pass the bill through the Senate Banking Committee by the end of September, then through the Agriculture Committee in October, and secure its signature by 2026. However, according to Congressional reports, this is becoming increasingly unrealistic amid the ongoing shutdown and the approaching holidays. While negotiations on the draft between committees continue, the process has actually slowed down, creating uncertainty for the future of cryptocurrency regulation in the country.