Senate Crypto Bill Slips Past Thanksgiving as Shutdown Stalls Drafting

Overview

• The federal shutdown has reached 38 days, sidelining technical staff and slowing committee work on the digital asset market structure package.
• Senators plan a vote to temporarily reopen the government, but the outcome remains uncertain and the schedule is fluid.
• Banking and Agriculture committees have not finished their competing drafts, making a pre-Thanksgiving markup unlikely and shifting expectations to December.
• The Agriculture Committee’s draft is expected to include bracketed placeholders that flag unresolved policy language.
• Disputes over SEC versus CFTC authority and rules for DeFi and stablecoins remain open, even as White House adviser David Sacks called recent talks with Senators John Boozman and Cory Booker encouraging.