TechFlow news, Cointelegraph reported that the U.S. government may shut down within the next seven days, as House Speaker Kevin McCarthy faces political pressure from his own party members over how to handle spending plans—a decision that could negatively impact how lawmakers advance pending cryptocurrency legislation. If U.S. legislators fail to reach an agreement on government spending before September 30, bills focusing on cryptocurrency regulation, market structure, and stablecoins could all be put on hold.
Ron Hammond, Director of Government Relations at the Blockchain Association, said: "As the divided House (Republicans) and Senate move in their respective directions, the likelihood of a government shutdown appears to grow. For the crypto industry, the longer a shutdown lasts, the more likely various bills—including those on retail/market structure and FIT—will be delayed."
