Funding bill set to reopen US government heads to Trump’s desk
Analysis
Price Impact
MedThe end of the us government shutdown removes a significant regulatory roadblock, allowing the sec to resume processing crypto etf applications and congress to advance crucial crypto legislation.
Trustworthiness
HighThe news reports a concrete legislative action (house passed funding bill, president expected to sign) from a reputable news source (cointelegraph citing fox news and bbc), making it highly verifiable.
Price Direction
BullishThe resumption of government operations means the regulatory bodies can once again focus on crypto-related initiatives. this removes a major source of uncertainty and could lead to the approval of spot crypto etfs and clearer market structure regulations, which are generally seen as bullish catalysts for the overall market.
Time Effect
LongWhile the government reopening is immediate, the actual process of approving etfs and passing legislation will take time. the full positive price effect from these developments is likely to materialize over weeks to months, rather than instantly.
Original Article:
Article Content:
Brian Quarmby 2 minutes ago Funding bill set to reopen US government heads to Trump’s desk The House passed a funding bill to end the longest US government shutdown in history, which had previously delayed crypto ETF approvals and key crypto bills. Listen 0:00 14 News COINTELEGRAPH IN YOUR SOCIAL FEED The longest US government shutdown on record is finally set to conclude, with the House of Representatives voting through a contested funding bill on Wednesday. The bill is now headed to US President Donald Trump, who is expected to sign it within the next few hours. Both Democratic and Republican lawmakers staunchly debated the bill in the House of Representatives, ahead of a final vote that ultimately ended in favor of the bill, with 222 votes in favor and 209 against. House of Representatives debating the bill on Wednesday. Source: Bloomberg According to a statement obtained by Fox News Digital, US President Donald Trump has already indicated that he will sign the bill, which would officially end the shutdown. The BBC reports that Trump plans to sign the bill at 9:45 pm local time during a private dinner with business leaders. “The Administration urges every Member of Congress to support this responsible, good faith product to finally put an end to the longest shutdown in history,” the statement read. Related: SEC chair pledges no ‘lax enforcement’ on crypto under market structure The funding bill would cover most of the government’s expenses through to the end of January next year. The bill saw neither side of the political aisle willing to budge. Democrats were pushing to halt the bill, demanding more funding for healthcare and the cost-of-living crisis. Republicans were not willing to address these concerns in the bill, instead calling for the government to reopen and promising to address these issues afterward. The government shutdown has halted the progress of crypto bills and also left a significant number of spot-crypto exchange-traded fund applications sitting on the Securities and Exchange Commission’s desk. Meanwhile, other bills — such as the comprehensive market structure bill — that have made some progress even during the shutdown, will now be able to gain more traction. Magazine: Big Questions: Did a time-traveling AI invent Bitcoin? # SEC # Bitcoin Regulation # CFTC # US Government # Donald Trump # Regulation Add reaction