U.S. Senate to vote on government reopening bill after cryptocurrency bill stalls

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The U.S. government shutdown will enter its 38th day on Friday, with the Senate scheduled to vote on a funding bill that could temporarily restart operations.

According to Friday’s U.S. Senate agenda, the chamber will consider the House’s continuing resolution to fund the government. It’s unclear whether the bill will pass the 60-vote threshold needed to pass the Senate, after multiple failed attempts over the past few weeks.

Amid the government shutdown, Republican and Democratic lawmakers are reportedly continuing to debate the Digital Asset Market Structure Act. The bill, passed by the House of Representatives in July as the CLARITY Act and referred to by the Senate as the Responsible Financial Innovation Act, is expected to provide a comprehensive regulatory framework for cryptocurrencies in the United States.

Lawmakers have continued to receive paychecks during the shutdown, but unlike many government agencies where employees have been furloughed or are working without pay, any legislation, including crypto bills, appears to be on the back burner.

At the time of publication, it was unclear how much support Republicans had over Democrats, who have held to the line in pushing for an extension of health care subsidies and a reversal of cuts from July’s budget proposal.

Related: Senate Democrats demand answers about President Trump’s pardon for Binance’s CZ

Is the timeline for the Republican crypto bill still achievable?

Wyoming Sen. Cynthia Lummis, one of the market structure bill’s most prominent advocates in Congress, said in August that Republicans plan to pass the bill through the Senate Banking Committee by the end of September, the Senate Agriculture Committee in October, and sign it into law by 2026.

Lawmakers on various committees are reportedly discussing the terms of the bill, but with the government shutdown and holidays looming, it is unlikely that the timeline will go as planned.

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