A White House economic adviser stated that the three-week-long US government shutdown is "likely to end sometime this week," suggesting a potential revival of cryptocurrency regulatory progress.
"I think the Schumer shutdown is likely to end sometime this week," Hassett told CNBC’s Squawk Box segment on Monday. He referred to Senate Minority Leader Chuck Schumer, whom Republicans have blamed for triggering the government shutdown.
Hassett added, "The moderate Democrats will move forward and get us an open government, at which point we could negotiate whatever policies they want to negotiate with regular order."
He also mentioned that if these efforts are unsuccessful, the Trump administration might implement "stronger measures" to compel Democratic cooperation. Hassett, a proponent of cryptocurrency, had previously disclosed holdings exceeding $1 million in Coinbase earlier this year. He is also considered one of Trump’s top three candidates to succeed Jerome Powell as the Federal Reserve chair in May 2026.
Government Shutdown Stalled Altcoin ETF Momentum
The US government shutdown, which began on October 1, is currently in its 20th day, making it the third longest in the nation's history.
Numerous exchange-traded fund applications for cryptocurrencies such as Litecoin (LTC), XRP (XRP), and Solana (SOL) are awaiting a final decision from the US securities regulator. However, these applications have been delayed due to the government's budget impasse.
Other cryptocurrency developments also appear to be on hold pending the end of the shutdown. In mid-September, US lawmakers met with Strategy’s Michael Saylor and 17 other industry leaders to discuss how Congress can advance Trump’s Strategic Bitcoin Reserve.
A significant topic during that meeting was how the BITCOIN Act, sponsored by Senator Cynthia Lummis, could facilitate Bitcoin purchases in a budget-neutral manner.
Democrats to Meet Crypto Executives This Week
Despite the shutdown, regulatory progress has not entirely ceased. Democratic Senators are reportedly planning to host a roundtable discussion with industry leaders from companies like Coinbase, Circle, and Ripple on Wednesday. The purpose of this meeting is to discuss how the proposed US crypto market structure bill can be advanced.
In contrast to Hassett's optimistic outlook, Polymarket odds suggest there is a 71% probability that the shutdown will extend beyond 30 days, pushing the end date to at least October 31.
