"U.S. government shutdown risk... concerns about delays in approval of spot cryptocurrency ETFs"
Summary
- It reported that the possibility of a U.S. federal government shutdown could delay the approval process for spot cryptocurrency ETFs.
- It said the SEC had simplified listing standards, but that most SEC departments would suspend operations in a shutdown.
- It said the approval delay would be a short-term phenomenon and would not affect market demand for virtual asset products.
On the 30th (local time), Blockworks, a media outlet specializing in virtual assets (cryptocurrencies), reported that as the possibility of a U.S. federal government shutdown grows, the approval process for spot cryptocurrency exchange-traded funds (ETFs) could be delayed.
The outlet said, "The U.S. Securities and Exchange Commission (SEC) has simplified listing standards for spot cryptocurrency ETFs, but if Congress fails to pass the budget and the federal government shuts down, most SEC departments would suspend operations."
It added, "This could temporarily delay the approval process, but it is not expected to affect market demand for virtual asset products," adding, "The approval delay is likely to be a short-term phenomenon."
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
![Growth rate halves as inflation stays elevated…all three major indexes fall [New York stock market briefing]](https://media.bloomingbit.io/PROD/news/28f7af74-50f6-40f0-a643-3cfb71bc2432.webp?w=250)