Government shutdown slows regulatory, legislative progress
The US government shutdown entered its eighth day on Wednesday. A Republican‑led stopgap bill to fund the government failed by 54 to 45 in the Senate, not meeting the 60‑vote threshold to pass.
Republicans currently hold a slim majority in the chamber and need Democratic votes to reopen the government. Democrats have asked for an extension of healthcare subsidies and a reversal of cuts from a July funding bill.
Though members of Congress may continue to confirm Trump’s existing nominees and pass legislation, the shutdown has effectively halted exchange‑traded fund approvals at the Securities and Exchange Commission (SEC).
Bills likely requiring bipartisan support, such as the market structure legislation to create a framework for digital assets, will also likely be delayed until after the shutdown ends.
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