US Government Shutdown Enters Third Week Amid Crypto Regulation Discussions
The US government is currently in its third week of shutdown, with a Senate vote scheduled for Monday evening to potentially end the funding crisis. Meanwhile, a separate meeting is set to take place on Wednesday, where lawmakers and crypto executives will discuss the long-stalled bill on the structure of the crypto market. This meeting, led by Democratic Senator Kirsten Gillibrand, aims to address concerns surrounding the bipartisan support for the CLARITY Act, which received approval in the House of Representatives in July.
Despite the stalemate, Congress remains active on other fronts, including discussions on the crypto market structure bill. According to journalist Eleanor Terret, 
ETFs Remain in Limbo Due to Government Shutdown
The US government shutdown has also impacted the approval of crypto exchange-traded funds (ETFs). With the Securities and Exchange Commission (SEC) operating with limited staff, key deadlines have passed without updates. The first deadline to pass was Canary’s proposed Litecoin ETF on October 2nd. On October 7, Bloomberg analyst Eric Balchunas said that the ETF, as well as Canary’s HBAR ETF, appeared to be finalized, although the shutdown will likely delay their launch. 
As a result, up to 16 crypto exchange-traded funds are planned for October, including funds tracking Solana, XRP, Dogecoin, Litecoin, and others. Another 21 ETF applications were filed with the SEC in the first few days of October. Additionally, several pending applications for Solana and Ethereum-based ETFs include stake components. Issuers such as Bitwise, Fidelity, Franklin Templeton, CoinShares, Grayscale, Canary Capital, and VanEck have all filed amended S-1 filings with the SEC, updating their proposals to reflect new staking provisions.
Impact of the Shutdown on Crypto Regulation
The US government shutdown has significant implications for the crypto industry, particularly with regards to regulation. The shutdown has delayed the approval of ETFs and has also impacted the discussion surrounding the crypto market structure bill. As the shutdown continues, it is essential to monitor the developments and their potential impact on the crypto industry. For more information on the US government shutdown and its impact on crypto regulation, visit https://cointelegraph.com/news/us-shutdown-third-week-senate-democrats-plan-crypto-roundtable?utm_source=rss_feed&utm_medium=rss_tag_regulation&utm_campaign=rss_partner_inbound
