The longest government shutdown in U.S. history is finally coming to an end, as the House of Representatives voted on Wednesday to pass a controversial funding bill.
The bill has now been sent to President Trump, who is expected to sign it on Wednesday evening.
Before the final vote, Democratic and Republican lawmakers engaged in heated debates in the House over the bill. Ultimately, the bill passed with 222 votes in favor and 209 votes against.
According to a statement obtained by Fox News Digital, President Trump has indicated he will sign the bill, which will officially end the government shutdown. BBC reports that Trump plans to sign the bill during a private dinner with business leaders at 9:45 PM local time.
"The administration urges every member of Congress to support this responsible and good-faith outcome to finally end the longest government shutdown in history," the statement read.
This funding bill will cover most government spending until the end of January next year.
Throughout the process, neither party made concessions. Democrats pushed to block the bill, demanding increased funding for healthcare and the cost of living crisis. Republicans were unwilling to address these demands in this legislation, instead calling for the government to be reopened first, promising to address related issues afterward.
This government shutdown has not only stalled the legislative process related to cryptocurrencies but has also led to a backlog of applications for spot cryptocurrency exchange-traded funds at the Securities and Exchange Commission.
Meanwhile, other legislation, including the comprehensive market structure bill, which had made some progress even during the shutdown, is now expected to gain more momentum.
Related: Reports suggest that Japanese stablecoin issuers are expected to fill the gap in central bank bond purchases.
Original: “Funding Bill to Reopen the U.S. Government Sent to Trump for Signature”
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