Government Shutdown Enters Week Two: Ripple Effects on US and Crypto Markets

The US government shutdown enters its second week, with federal employees remaining furloughed and others working without pay as lawmakers remain unable to agree on a funding measure. The lack of action has impacted crucial regulatory agencies like the SEC and CFTC, hindering their ability to review applications and operate at full capacity. While a potential resolution might be in sight, uncertainty surrounds the outcome, with no clear indication of whether a continuing resolution will receive sufficient support for passage. 2023’s prolonged government shutdown is already impacting the digital asset industry, particularly as the SEC faces restrictions due to funding shortfalls.