Business If American lawmakers fail to agree on a budget plan, bills pertaining to stablecoins, market structure, and crypto binance regulation may all be placed on hold.
House Speaker Kevin McCarthy is under political pressure from members of his own party over how to handle budget plans, which might have a negative impact on how lawmakers proceed with crypto measures that are waiting for a vote. As a result, the US government could shut down within the next week.
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The Financial Innovation and Technology for the 21st Century Act (FIT), the Blockchain Regulatory Certainty Act, the Clarity for Payment Stablecoins Act, and the Keep Your Coins Act were all approved by the House Financial Services Committee in July. The passages marked a first for the committee in moving forward with so many legislation pertaining to cryptocurrencies, which may result in a House floor vote during the current Congress.
Unsurprisingly, a shutdown would prevent Congress from moving forward with any bills until they find a solution to the problem of funding the American government into the upcoming fiscal year. Although there have been some shutdowns in the past,
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