Government Shutdown Threatens Crypto's Big Picture as it Stretches to Second-Longest

The U.S. government shutdown, entering its fourth week and becoming the second-longest on record, is not causing immediate, direct harm to the digital assets sector, but it is significantly damaging long-term industry goals. The primary concern is the Senate's focus on reopening the government, which has sidelined crucial legislative windows, potentially causing the industry to miss its chance in 2025 to pass the House's Digital Asset Market Clarity Act. Industry leaders also warn that the lack of progress on establishing reasonable U.S. tax policies represents a potentially larger long-term cost. Furthermore, the shutdown has halted federal regulators, including the SEC, from working on governance rules for stablecoins and developing digital assets market proposals. While some administrative work, like patent resolutions, continues, the halt on SEC approvals for exchange-traded products (ETPs) could have detrimental long-term effects. Despite these concerns, some industry representatives noted that political progress on digital asset policy has not entirely paused, with meetings continuing.

(Source：CoinDesk)