Senate Republicans race to pass stopgap spending bill before recess, keeping government shutdown risk at bay

Senate Republicans are pushing to pass a continuing resolution before Friday’s recess deadline, aiming to prevent a government shutdown. The stopgap bill would extend current funding levels through early December, buying Congress time to negotiate full-year appropriations. Senate Majority Leader John Thune has made passage of the measure a top priority before lawmakers scatter for the August recess. With current federal funding authority set to expire on September 30, the clock is ticking. What’s actually in the bill The House of Representatives already passed a comparable version in mid-July that would extend funding through December 4. The Senate’s version follows a similar trajectory, aiming to bridge operations well past the November midterm elections. Passing a CR in the Senate isn’t a simple majority affair. The chamber needs 60 votes to advance the measure, which means Republicans can’t do this alone. Bipartisan cooperation is required. Why crypto markets should care about a spending bill with zero crypto provisions There’s nothing about Bitcoin, stablecoins, or digital asset regulation in this bill. But dismissing it as irrelevant to crypto would be a mistake. Government sh...