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US Senators Push to Finalize Crypto Market Bill as Shutdown Standoff Deepens: Report

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Bipartisan talks on a long-awaited U.S. crypto market regulation package deal, the CLARITY Act, have resumed within the Senate, even as Washington stays paralyzed by a authorities shutdown now in its thirty first day, one of many longest in U.S. historical past.

Lawmakers from each events are racing to finalize the market construction invoice that might reshape oversight of digital property earlier than election politics stall progress.

The negotiations, led by key Senate committees, have accelerated in latest weeks regardless of the broader gridlock.

Can the CLARITY Act cross by Thanksgiving?

According to the report, Senate Agriculture Committee Chair John Boozman (R-Ark.) stated he and Sen. Cory Booker (D-N.J.) are working “day by day” to full their part of the laws, which might set up a regulatory framework for digital property handled as commodities.

Boozman stated he expects a committee vote “earlier than Thanksgiving,” including, “We’re going to get it completed this yr.”

Booker echoed that sentiment, saying the aim was to “get the coverage proper” somewhat than rush the timeline.

Their work represents one a part of a broader bipartisan effort spanning a number of committees, together with Banking and Finance, to outline how digital property match inside U.S. laws and the tax code.

Talks inside the Senate Banking Committee have additionally gained momentum. Senators Cynthia Lummis (R-Wyo.), Ruben Gallego (D-Ariz.), and Angela Alsobrooks (D-Md.) stated discussions had resumed after weeks of delay.

Notably, Committee Chair Tim Scott (R-S.C.) stated he was “inspired” by the progress and appears ahead to advancing “significant laws.”

Still, some members caution that the bill is not yet ready. Sen. John Kennedy (R-La.) stated the laws requires a public listening to and that many lawmakers nonetheless want to perceive the difficulty.

The push for progress comes amid warnings that point is working out. Sen. Thom Tillis (R-N.C.) said Congress must act by early 2026 or threat dropping momentum as election politics take over.

“I’m not optimistic about us shifting a lot additional on something round digital property, stablecoins, or crypto on this Congress,” he stated on Monday.

Longest Shutdown in History Looms — What’s Next for America?

The shutdown, now stretching into its fifth week, has added additional pressure. The Senate adjourned Thursday with out progress on a seamless decision, guaranteeing the shutdown will final a minimum of 34 days, tying the longest lapse in U.S. historical past.

As of October 20, 25% of Polymarket bettors predict that the shutdown will last until at least November 16 and will drag on for nearly one other month to turn into the longest in American historical past.

Funding for meals help beneath the Supplemental Nutrition Assistance Program (SNAP) is about to expire Saturday, threatening advantages for 42 million Americans.

The closure, triggered by disputes over healthcare subsidies, has left 1.4 million federal staff with out pay, together with air site visitors controllers and staff at key companies.

Despite the stalemate, Senate Democrats and Republicans are anticipated to meet individually with trade executives subsequent week to hold crypto talks alive.

U.S. Lawmakers Renew Crypto Talks, however Prediction Markets Cut Odds of 2025 Passage to 25%

On October 20, Sen. Kirsten Gillibrand (D-N.Y.) hosted a closed-door roundtable with major industry figures, together with Galaxy’s Mike Novogratz, Coinbase CEO Brian Armstrong, and Chainlink’s Sergey Nazarov.

Armstrong advised CNBC that roughly 90% of the invoice’s points had already been resolved and that Thanksgiving had been floated as a possible target for completion.

The House-passed Digital Asset Market Clarity Act, approved in July by a 294–137 vote, stays stalled due to the shutdown.

The measure defines which digital property fall beneath the jurisdiction of the Commodity Futures Trading Commission (CFTC) and that are overseen by the Securities and Exchange Commission (SEC).

Together with the GENIUS Act, signed by President Donald Trump earlier this year, it types the inspiration of the rising U.S. crypto regulatory framework.

White House AI and Crypto Czar David Sacks stated the administration stays optimistic that bipartisan help could still deliver progress by the end of 2025.

Source: Polymarket

But prediction markets paint a special image, with knowledge from Polymarket showing only a 25% likelihood the CLARITY Act turns into regulation this yr, down from 87% in mid-July

The submit US Senators Push to Finalize Crypto Market Bill as Shutdown Standoff Deepens: Report appeared first on Cryptonews.

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