Since lawmakers failed to pass a temporary funding bill to finance the government last week, many U.S. federal employees have been forced to take leave, while others continue to work without pay, with the shutdown expected to persist.
As of Monday morning, no agreement has been reached between Republican and Democratic lawmakers in the U.S. Congress to end the shutdown and restore normal operations, including activities of financial regulatory agencies such as the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).
The Senate plans to vote on a continuing resolution for government funding at 5:30 PM Eastern Time, but as of the time of writing, it is unclear whether the bill has enough support to pass.
The core position of the Democrats in the budget impasse is healthcare, with lawmakers insisting that any spending bill must include the reversal of cuts made in the July budget bill.
Regarding the impact on the digital asset industry, the SEC stated it will operate "under extremely limited personnel" and "under modified conditions" until the funding bill is passed, which limits its ability to review applications for cryptocurrency exchange-traded funds. The CFTC currently has only one commissioner serving as acting chair and is also operating under personnel and functional constraints.
Przemysław Kral, CEO of cryptocurrency exchange Zondacrypto, stated in a statement shared with Cointelegraph: "The U.S. government shutdown could harm the crypto industry by disrupting the SEC and CFTC, which are crucial to the global digital asset market."
Kral said, "While the direct impact may seem limited, their reduced operational capacity has the potential to stifle innovation and lower investor confidence, especially in a region that is already lagging in crypto regulation."
Before the government returns to normal operations, the Senate is unlikely to consider legislation to establish a digital asset market structure, and U.S. President Donald Trump will not nominate a replacement for the CFTC commissioner.
The White House withdrew the nomination of Brian Quintenz to serve as CFTC chair last week, reportedly due to opposition from Trump donors and supporters, Gemini co-founders Cameron and Tyler Winklevoss.
Various bets on platforms like Kalshi and Polymarket show that many users predict a longer shutdown period—but not one that will set a historical record. Trump set the record for the longest government shutdown at 35 days during his first term due to his push for building the U.S.-Mexico border wall.
On Kalshi, bets on the duration of the shutdown predict a 69% chance it will last more than 15 days and a 41% chance it will exceed 25 days. Polymarket, at the time of writing, gives the current shutdown a 24% chance of becoming the longest in U.S. history, but a 72% chance of ending after October 15.
The shutdown entered its sixth day after funding expired at midnight on September 30.
Related: U.S. Government Shutdown Raises Concerns as Crypto Funds See Record Inflows of $5.95 Billion
Original article: “U.S. Government Shutdown Enters Second Week, Crypto Regulators Operating Under Constraints”
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