The US crypto sector faces an invisible but real threat

A record of the paralysis that seizes the legislative machinery

The United States federal government is currently shut down for 36 days, an all-time record. This blocking of the budget not only prevents the normal functioning of the agencies, but also paralyzes the current legislative work, especially that related to the Law on the Structure of Crypto Markets, a key text for the industry.

The situation is all the more critical because President Donald Trump has made it clear that he wants to enact this law by the end of 2025. However, that ambition now appears to be in jeopardy. Several observers in Washington point out that the forced leave of federal experts drastically limits the possibilities of drafting, coordinating and negotiating the text. The delay could push the adoption of this key regulation until 2026.

Current dynamics generate a double uncertainty. On the one hand, the agencies involved, such as the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), no longer have sufficient resources to provide technical oversight of the project. On the other hand, the parliamentary committees responsible for the text, themselves affected by downsizing, are struggling to move forward. For some members of Congress, the legislation isn’t abandoned, but the shutdown certainly isn’t helping.

However, Bitget CEO Gracy Chen sees it as a learning opportunity. He believes that this paralysis highlights the fragility of centralized systems and reinforces the importance of decentralized solutions that are more resilient to institutional crises. According to her, “the closure acts as a catalyst to remind us of the importance of building robust and forward-looking regulatory frameworks”.

When inaction becomes an involuntary political strategy

Despite this climate of paralysis, some actors close to the executive want to be reassuring. David Sacks, an adviser to Donald Trump on cryptocurrency and artificial intelligence issues, said the text is making “remarkable progress” even as the shutdown now enters its 37th day. However, he admits that regulatory agencies work with limited teams, which weakens the progress of the text.

Interestingly, some elected officials see this pause as an opportunity to review the project’s fundamentals. According to them, the ordered suspension offers time for reflection to refine the legal structure and technical definitions of the text. This paradox, when stopping the legislative process could indirectly improve its quality, raises discussions within the institutions themselves.

On the business side, if the climate of uncertainty weighs on investor morale, it could also boost collective awareness of the need for clear and bipartisan oversight in the medium term. Gracy Chen believes that this period highlights the inefficiency of traditional financial systems and could strengthen institutional confidence in the reliability of blockchains. He emphasizes that in an increasingly volatile environment, more and more investors are diversifying their strategies and moving towards decentralized, more stable and globalized alternatives.

At the same time, companies in the sector, which are waiting for regulatory clarity, are concerned. The accumulated delay could slow investment, delay the arrival of new infrastructure and, above all, give way to other, faster jurisdictions. For analysts, this lack of regulatory visibility could undermine the United States’ position in the global race for crypto innovation.