The protracted U.S. government shutdown, the longest in history, is finally coming to an end after congressional approval of a new funding package. The House of Representatives narrowly passed the bill amid intense debate, setting the stage for President Donald Trumpโs anticipated signature later tonight. This resolution provides a temporary fix to keep the government operational through the beginning of next year, allowing lawmakers to shift focus toward longer-term fiscal negotiations.
- The U.S. House of Representatives passed a funding bill ending the longest government shutdown in history.
- President Trump is expected to sign the bill during a private dinner with business leaders.
- The legislation temporarily funds the government until the end of January 2024.
- The shutdown had delayed crucial crypto legislation and left many crypto ETF applications pending at the SEC.
- Some crypto bills, like the comprehensive market structure bill, are poised to gain renewed momentum following the resolution.
The longstanding federal shutdown was officially set to conclude as the House of Representatives approved a contentious funding bill on Wednesday. Though the debate was fierce, the bill ultimately passed with 222 votes in favor and 209 against. The legislation, which aims to keep government agencies funded through the end of January 2024, now moves to President Donald Trump, who is expected to sign it during a private dinner with business leaders tonight.
According to a statement obtained by Fox News Digital, President Trump has indicated his intention to sign the bill, effectively ending the government shutdown. The BBC reports that Trump plans to do so at 9:45 p.m. local time, during a private dinner with key business leaders. The administration urged Congress to approve this โresponsible, good faithโ measure, emphasizing that it will mitigate disruptions to federal agencies and services.
The legislative deadlock was characterized by rigid positions from both sides. Democrats sought additional funding for healthcare and measures to address the rising cost-of-living, but Republicans refused to include these provisions in the bill, insisting instead on reopening the government and promising to handle these issues separately. The standoff had delayed vital crypto legislation, with numerous applications for spot-crypto exchange-traded funds (ETFs) stalled at the SECโan ongoing concern for the crypto markets.
Nevertheless, some progress was made during the shutdown, including advancements on broader crypto-related bills like the comprehensive market structure legislation, which now are expected to gain more traction as the government reconvenes. The resolution restores a measure of stability to the crypto industry, where regulatory clarity and timely approvals remain critical for traders, investors, and DeFi projects alike.
As the U.S. government reopens, the crypto sector is watching closely, eager for renewed momentum in blockchain regulation and innovative financial products. The resolution underscores the importance of bipartisan cooperation in shaping the future of cryptocurrency regulation and market development in the United States.
