US Government Shutdown Stalls Approval Process for Cryptocurrency ETFs, Resumption Timeline Unclear—Report

On October 1, the US government entered a shutdown due to the failure to reach an agreement on the budget proposal, plunging the approval process for dozens of cryptocurrency ETFs into uncertainty. A government shutdown refers to a situation where Congress fails to pass a budget, causing federal agencies to cease regular operations. According to interviews conducted by The Block with insiders, one source described the situation as 'severe'. The US Securities and Exchange Commission (SEC) was in the midst of reviewing applications for numerous cryptocurrency ETFs, including those for Dogecoin (DOGE), Solana, XRP, and Litecoin. These applications were submitted over the past year as the regulatory environment for cryptocurrencies improved under the Trump administration. However, as of Tuesday night US time...