Yes

>>Positive cryptocurrency legislation could be approved even with the US government currently shut down.

Positive cryptocurrency legislation could be approved even with the US government currently shut down.

crypthub

about 14 hours ago

Legislative Progress on Crypto Regulation

The US House approved the CLARITY Act, a cryptocurrency regulation bill, and the Senate is now drafting its version. A bipartisan proposal is being developed by the Senate Agriculture Committee, indicating a commitment to securing broad support. Progress is reportedly being made despite the ongoing government shutdown, signaling potential advancements for the cryptocurrency sector. The final bill will be submitted to President Trump for approval.

Competing Frameworks and Committee Involvement

Multiple crypto market structure proposals are under consideration in the Senate, including a framework from Democratic senators and the Republican-backed Responsible Financial Innovation Act (RFIA). Because the Senate process doesn't allow for referral to multiple committees, the Agriculture Committee’s draft is a vital next step. Involvement of both the Agriculture and Banking Committees adds complexity to the regulatory process.

Challenges and Potential Timeline

The government shutdown and the absence of key CFTC staff are slowing the legislative process, compounded by the uncertainty surrounding the CFTC chair appointment. Floor time in the Senate is limited, increasing pressure on both committees to expedite their work. Experts caution that momentum could be lost if the process extends into 2026.