NEW YORK — The U.S. government shutdown is now the longest on record, breaking the previous 35-day mark as lawmakers remain at an impasse over funding the federal budget. This deadlock may be exacerbated by Tuesday night’s significant victory for Democrats in an off-year election.
Expectations had been rising that Democrats might relent on their demands and vote to fund the government soon, without winning concessions related to recent healthcare premium increases. However, the election results may delay negotiations among elected officials, according to sources monitoring the situation.
An individual involved in policy matters indicated that the election outcomes are likely to stall negotiations on multiple fronts, though there remains a chance for a markup on market structure legislation by Thanksgiving.
Another policy expert noted that while it is feasible for Congress to pass market structure legislation, it is improbable to occur before the end of 2025. However, it could pass through both houses by the end of 2026.
As previously reported, the longer the shutdown persists, the lesser the likelihood of advancing market structure legislation. Summer Mersinger, CEO of the Blockchain Association, mentioned that the ongoing shutdown increases the chances that this bill will be pushed to 2026.
Many experts in this field have been furloughed during the shutdown, leaving fewer individuals able to develop the necessary legislative language.
Patrick Witt, the executive director of the President’s Council of Advisors for Digital Assets, addressed an audience at Ripple’s Swell conference, affirming that President Trump still aims to have a final market structure bill on his desk by the end of 2025.
“We’re continuing to apply pressure, having regular meetings,” he stated. “I spend most of my time on Capitol Hill these days, meeting with Senators from both sides to get that done. I’m optimistic that we’ve seen enough progress recently to where the trend line is moving in the right direction.”
Witt noted that the shutdown has inadvertently provided lawmakers with time to collaborate with his team on the bill’s specifics.
“We’ve had an opportunity to really engage with offices and staff in ways that might not have been possible amid other competing priorities,” he added.
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