Implications of US Government Shutdown on Bitcoin and Stocks
The United States government is heading towards a potential partial shutdown starting on October 1, as the House of Representatives rejected a bill passed by the Senate aimed at funding the government. If a shutdown occurs, crypto-focused bills will be halted, and financial regulators like the SEC and CFTC will operate with limited capabilities. Congressional priorities may shift away from crypto to other issues arising during the shutdown, and distractions are expected as the 2024 elections approach. The longer the shutdown, the less time Congress will have to vote on critical legislation, including stablecoins and market structure proposals.
