Trump Adviser David Sacks Says U.S. Crypto Market Bill Making “Great Progress”

President Donald Trump’s crypto and AI adviser, David Sacks, said on Thursday that discussions on the U.S. crypto market structure bill are showing “great progress.”

In a post on X, Sacks expressed confidence that a bipartisan draft of the legislation would be ready in the near future. 

His update comes as Congress continues to debate the framework. This debate is unfolding during the longest government shutdown in U.S. history, now in its 37th day. The bill seeks to establish clear trading and regulatory frameworks for digital assets and decentralized finance (DeFi). These provisions are considered fundamental to advancing the country’s crypto policy agenda.

Shutdown Creates Both Obstacles and Opportunities

The ongoing five-week government shutdown has disrupted committee schedules and slowed coordination with key agencies. This includes the SEC and CFTC, which are operating with reduced staff.

However, several lawmakers say the pause has created more space for direct policy dialogue. For instance, Patrick Witt, director of Trump’s Digital Assets Council, confirmed at Ripple’s Swell conference that despite logistical hurdles, senators and administration officials have used the downtime to refine definitions and enforcement language within the bill.

Steady Behind-the-Scenes Negotiations

On Tuesday, Senator Cynthia Lummis, a lead sponsor of the legislation, told Bloomberg that bipartisan talks continue every day. She said these discussions are largely focused on technical revisions aimed at securing broader support of the Senate.

Lummis acknowledged that passing the bill before year-end is unlikely but insisted that staff-level coordination will keep progress steady.

“We’re working every single day,” she said, emphasizing the determination to maintain momentum despite shutdown challenges.

Tight Timeline Before Election Season

Senator Thom Tillis has cautioned that lawmakers have only until January or February to advance the bill before election politics dominate. Early passage, he said, would help sustain bipartisan momentum heading into 2026.

Meanwhile, Senator Chris Murphy emphasized that Democrats plan to prioritize healthcare subsidies and budget negotiations. Consequently, this focus could slow progress on other measures, including the market structure bill.

Optimism Remains as Draft Nears Completion

Despite the obstacles, momentum has begun to return. Lawmakers expect additional meetings with the White House in the coming weeks to finalize the bill’s regulatory framework and trading definitions.

Sacks’s optimism has reenergized the process. This renewed momentum has officials close to the talks anticipating a new draft version in the near future.

While the timeline remains uncertain, the latest bipartisan activity signals that digital asset regulation remains a shared priority across party lines, even amid the longest government shutdown in U.S. history.