The U.S. government shutdown affects the encryption regulatory process, ETF approvals, and legislative latency.

[Coin World] The U.S. government shutdown has delayed critical regulatory progress for encryption, including the approval of Spot ETFs and market structure legislation. Although the SEC has paused ETF reviews, Senate committees are still working on cryptocurrency bills and tax policies. Due to staff reductions across agencies and ongoing debates in the industry regarding stablecoin yields between banks and cryptocurrency exchanges, the implementation of the GENIUS Act faces further delays.