US President Donald Trump signed a funding bill passed by the House of Representatives on Wednesday, ending the longest government shutdown in the country’s history at 43 days.
The bill passed the Senate on Monday before proceeding to the House of Representatives and was signed by Trump just hours later to restore federal government operations.
The issue of health care funding has been a major factor in the delay in the bill’s passage, with Democrats demanding increased funding while Republicans want the issue resolved after approval.
The government reopening allows federal agency staff to return to work, including at the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), two major regulatory bodies closely related to the crypto market.
Crypto ETF issuers are now awaiting the SEC’s next steps regarding the approval of several pending exchange-traded fund applications.
Meanwhile, the CFTC is expected to hold a confirmation hearing on November 19 for Trump’s nominee, Mike Selig, to lead the agency.
In addition, the Treasury Department is now expected to continue the process of assessing public feedback on the GENIUS Act, which focuses on stablecoin regulation and was developed between early October and early November.
Meanwhile, the crypto market reacted positively to the end of the government shutdown, although Bitcoin price movements remain limited for now. In the past, the reopening of the US government has typically triggered significant rallies in digital asset markets.
