GOVERNMENT SHUTDOWN CONTINUES RISK OF DERAILING CRYPTO BILL

Summary from the TLDR Crypto newsletter

The US government shutdown reached a record 36 days on Wednesday, potentially delaying budget dealmaking and further pushing out crypto market structure legislation. Policy experts predict that a markup by Thanksgiving remains possible, but passage by the end of 2025 is unlikely, with legislation more likely moving through both houses by the end of 2026, as furloughed government experts leave fewer people capable of crafting legislative language. Patrick Witt, White House executive director of the President's Council of Advisors for Digital Assets, maintains optimism that Trump still wants the bill by end of 2025 and argued the shutdown paradoxically helped by allowing more time to engage lawmakers on substance "in a way that we might not have otherwise been able to, had there been a bunch of other competing priorities."