American congressmen will meet with the White House’s chief adviser on cryptocurrencies to discuss with him the bill on the structure of the digital assets market, currently under consideration in the US Senate.
An act that will strengthen the industry in the USA
The draft law on the structure of the cryptocurrency market may strengthen the industry by finally clarifying the competences of individual authorities and which of them is to supervise a given part of the industry.
It is known that Republican Senator John Boozman of the Senate Agriculture Committee, one of the committees that will have to approve the bill, is scheduled to meet with White House adviser on cryptocurrencies and AI, David Sacks, and Democratic Senator Cory Booker. The topic is to be the draft bill regarding cryptocurrencies.
The document was originally passed by the House of Representatives in July. At the time, many expected the bill to pass the Senate with bipartisan support. But Democrats suddenly started pushing for legislation on decentralized finance protocols, leading to an impasse.
It is unclear whether senators intend to prioritize cryptocurrency legislation or the funding bill, which aims to reopen the government and restore the full membership and functioning of financial agencies such as the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CTFT). For now, there are many indications that we will continue to see a furor over the shutdown in Congress. Democrats suggest they will continue to pressure Republican colleagues to support extending health care subsidies and reversing cuts from the July funding bill.
Time is running out
Last week, North Carolina Republican Sen. Thom Tillis said lawmakers have until the “first half of January, February” to pass a cryptocurrency bill before the 2026 midterm elections complicate the process. In turn, senator from Wyoming, Cynthia Lummis, initially announced that the bill would be signed by the end of the year.
We are currently working every day at staff level to obtain the necessary number of votes in the committee and get it passed
Lummis said in a Tuesday interview with Bloomberg about the Market Structure Act.
Speaking at the Ripple Swell conference in New York on Wednesday, executive director of President Donald Trump’s Council of Advisors on Digital Assets, Patrick Witt, said the government shutdown “has caused some complications” in discussions about market structure.
Shutdown continues
Gracy Chen, CEO of Bitget, sent us a note regarding the shutdown in the US:
We believe the record-breaking 35-plus-day U.S. government shutdown is a temporary setback that underscores the value of resilient, decentralized systems like those powering the cryptocurrency economy. The disruption of key agencies and delays in passing market structure regulations have exposed the fragility of centralized operations, which may accelerate calls for clearer, bipartisan regulation of cryptocurrencies once normal operations are restored.
While the pause may dampen short-term investor sentiment, it could ultimately help accelerate reforms by highlighting the inefficiencies of traditional financial systems and strengthening institutional confidence in the reliability of blockchain technology. In a market where volatility remains but innovation remains strong, this period of uncertainty is encouraging strategy diversification and global adoption of new solutions as investors seek stability in decentralized alternatives.
Overall, the shutdown serves as a catalyst for progress, reinforcing the need for a robust, forward-looking regulatory framework that strikes a balance between innovation, transparency and resilience, laying the foundations for sustainable growth across the digital asset ecosystem.
