The three-week-long US authorities shutdown is “more likely to finish someday this week,” in response to a White Home financial adviser, a transfer that might crypto regulatory progress.
“I feel the Schumer shutdown is more likely to finish someday this week,” Kevin Hassett told CNBC’s Squawk Field section on Monday, referring to Senate Minority Chief Chuck Schumer, whom Republicans have pointed the finger at for triggering the federal government shutdown.
“The average Democrats will transfer ahead and get us an open authorities, at which level we might negotiate no matter insurance policies they wish to negotiate with common order,” he added.
If that isn’t profitable, the Trump administration might impose “stronger measures” to drive the Democrats to cooperate, stated Hassett, a crypto advocate who disclosed holdings value greater than $1 million in Coinbase earlier this 12 months.
He’s additionally one in all Trump’s high three picks to switch Jerome Powell because the Federal Reserve chair in Could 2026.
Government shutdown stalled altcoin ETF momentum
The US authorities shutdown — which commenced on Oct. 1 — is presently in its twentieth day, the third longest within the nation’s historical past.
Many exchange-traded fund functions for Litecoin (LTC), XRP (XRP) and Solana (SOL) are waiting on a final decision from the US securities regulator, however have been delayed because of the authorities’s finances standoff.
Different crypto developments are seemingly ready for an finish to the shutdown. US lawmakers met with Strategy’s Michael Saylor and 17 different business leaders to debate how Congress can move forward with Trump’s Strategic Bitcoin Reserve in mid-September.
A key speaking level in that assembly centered on how the Cynthia Lummis-sponsored BITCOIN Act can facilitate Bitcoin purchases in budget-neutral methods.
Democrats to satisfy crypto executives this week
Nonetheless, the federal government shutdown hasn’t fully stalled regulatory progress, with Democratic Senators reportedly set to host a roundtable with business leaders from Coinbase, Circle, Ripple and others on Wednesday to debate how the proposed US crypto market construction invoice could be pushed ahead.
Associated: US Senate confirms Treasury official as government shutdown continues
Regardless of Hassett’s optimism, Polymarket odds estimate there’s a 71% probability that the shutdown will last more than 30 days, taking it to at the very least Oct. 31.
Journal: Review: The Devil Takes Bitcoin, a wild history of Mt. Gox and Silk Road
Cointelegraph by Brayden Lindrea US Government Shutdown End This Week, Trump Adviser cointelegraph.com 2025-10-21 03:34:45
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