Government Agency Operations and Regulatory Body Updates in Flux Amid Funding Deadline

The United States Securities and Exchange Commission (SEC) is preparing for a potential government shutdown as the deadline for approving funding approaches. If Congress fails to pass a spending bill by midnight Friday, many government agencies will cease operations, including the SEC.

In such an event, the agency will only continue to provide essential services, such as emergency operations. This means that routine reviews of various filings, including ETF applications, may be delayed or halted until further notice.

However, even in the midst of a shutdown, the SEC will still have the authority to prosecute cases involving fraud and market manipulation. It is unclear whether any specific actions would be taken in response to these types of incidents during a shutdown period.

This announcement comes as the agency faces significant challenges, particularly in the cryptocurrency space. The SEC has been criticized for its lack of clarity on regulatory guidelines for digital assets.

Meanwhile, reports have surfaced suggesting that anti-crypto SEC Commissioner Caroline Crenshaw may be preparing to leave the agency after senators failed to vote on her renomination earlier this week.

Source: u.today