Government Shutdown Delays Senate Crypto Market Structure Bill Progress
The US government shutdown has entered its 38th day, disrupting legislative progress on the crypto market structure bill (CLARITY Act/Responsible Financial Innovation Act). While discussions continue, the focus has shifted to funding negotiations, delaying Senator Cynthia Lummis' timeline for enacting the legislation by 2026.
Political gridlock persists, with Democrats and Republicans at odds over healthcare subsidies and government reopening terms. Federal agencies are feeling the strain, with the FAA implementing flight capacity cuts starting at 4%, potentially escalating to 10-20% if the shutdown prolongs.
Polymarket odds currently place a 52% probability on the shutdown ending within the next week. The Senate's upcoming vote on a House continuing resolution faces uncertainty, requiring 60 votes to pass after previous failed attempts.
