The post How Will The U.S. Government Shutdown Affect the Crypto Industry? appeared first on Coinpedia Fintech News
With the U.S. on the brink of another government shutdown, concerns arise about its potential impact on the already shaky cryptocurrency industry. Past shutdowns have left a dent; this time, it might not be any different.
Here is a closer look.
A Flashback to Previous Shutdowns
During previous government halts, crypto-related entities experienced delays in decisions. For instance, an ambitious bitcoin exchange-traded fund was shelved, with insiders attributing the setback to the shutdown.
Now, eyes are on the SEC, which appears to be tentatively postponing Bitcoin ETF applications. Moreover, Coinbase is eagerly awaiting an October 11 response from the SEC regarding its Mandamus petition.
The Looming Shutdown and its Mechanism
Should Congress not intervene timely, the government could halt its operations this weekend. Here’s how it works: The U.S. Constitution empowers C
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