Potential Resolution for US Government Shutdown This Week, Crypto Industry Anticipates Developments

Government Shutdown Update: A top White House economic adviser, Kevin Hassett, is optimistic that the ongoing U.S. government shutdown, now in its third week, may soon end, potentially allowing for the resumption of stalled crypto regulatory efforts.

Impact on Crypto Regulation: The shutdown has delayed decisions on multiple cryptocurrency ETF applications and other regulatory reviews, affecting initiatives related to major digital assets like Litecoin, XRP, and Solana.

Democratic Initiatives: Despite the shutdown, some Democratic senators are planning a roundtable discussion with major crypto firms to explore advancing a proposed U.S. crypto market structure bill aimed at providing clearer regulatory guidance.

Market Predictions: While Hassett is hopeful for a quick resolution to the shutdown, prediction market platform Polymarket indicates a 71% chance that the standoff could extend beyond 30 days, potentially impacting crypto-related discussions further.