As the government shutdown drags on, the US Senate is preparing a vote to end it while lawmakers plan to meet crypto leaders Wednesday to discuss the stalled market structure bill.
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The US government is approaching its fourth week of shutdown, with a Senate vote scheduled for Monday evening to end the funding impasse, and a separate meeting on Wednesday where lawmakers and crypto executives will discuss the long-stalled crypto market structure bill.
The Senate will vote at 5:30 p.m. ET for the 11th time in an effort to end the . Approval and a presidential signature would reopen federal operations, while another failure would extend the stalemate.
Despite the gridlock, Congress remains active on other fronts. On Wednesday, Senate Democrats are expected to host a roundtable with crypto industry leaders from Coinbase, Kraken, Circle, Ripple and others to discuss the proposed US market-structure bill, according to a post on X by Eleanor Terret.
The meeting, led by Democratic Senator Kirsten Gillibrand, comes after several Democratic senators to the crypto market structure bill that critics say would “kill DeFi” and undermine the bipartisan support the received in the House in July.
The is the Senate’s counterpart to the House’s CLARITY Act, which aims to create a comprehensive federal framework around digital assets.
The US government has been shut down since Oct. 1, making it the third-longest shutdowns in US history so far, trailing those of 1995 and 2018–2019.
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What was shaping up to be a pivotal month for US (ETFs) has been stalled by the government shutdown. With the Securities and Exchange Commission (SEC), the agency responsible for ETF approvals, operating with limited staff, key deadlines have come and gone without updates.
The first was Canary’s proposed Litecoin ETF on Oct. 2. On Oct. 7, Bloomberg analyst Eric Balchunas said the ETF, as well as Canary’s HBAR ETF, , though the shutdown will likely delay their launch.
As Cointelegraph reported, as many as are slated for October, including funds tracking Solana, XRP, Dogecoin, Litecoin and others. Another 21 ETF applications were during the first days of October.
There are also for Solana- and Ethereum-based ETFs that include staking components.
Issuers such as Bitwise, Fidelity, Franklin Templeton, CoinShares, Grayscale, Canary Capital and VanEck have all submitted amended S-1 filings to the SEC, updating their proposals to reflect new staking provisions.
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