According to the Blockchain Association’s Ron Hammond, a U.S. government shutdown was likely due to divisions among Republican lawmakers, halting progress on crypto bills.
The United States government could be shut down in the next 7 days with House Speaker Kevin McCarthy facing political pressure from members of his own party on how to handle spending plans — a decision that could adversely affect how lawmakers move forward with crypto bills awaiting a vote.of the Financial Innovation and Technology for the 21st Century Act , the Blockchain Regulatory Certainty Act, the Clarity for Payment Stablecoins Act and the Keep Your Coins Act.
“It is seeming more and more likely there will be a shutdown with the fractured House [Republican] divisions and Senate going in their own direction,”the Blockchain Association’s director of government relations Ron Hammond on X. “For crypto the longer the shutdown goes on, the more various bills including FIT/market structure and stables get pushed.”
14) However for crypto this is big as the Senate was always the obstacle for legislation getting signed into law. Whenever the shutdown fiasco subsides, this will be an important dynamic to watch. Whether you're watching the shutdown fight or Gensler this week, get yourready!
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