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After the Longest Shutdown, Crypto Rules and ETF Reviews Resume
The United States government has officially ended its longest-ever shutdown after 43 days of disruption. President Trump signed the bill on November 12, 2025, following House approval and a 60-40 Senate vote. The historic closure paralyzed federal services nationwide and created a data vacuum that will impact Federal Reserve decisions and crypto regulation in the coming weeks.
The shutdown suspended federal contracts, halted food assistance programs, and triggered over 2,500 flight cancellations as air traffic controller shortages reached critical levels. Federal agencies like the FAA struggled to maintain basic airport operations until lawmakers reached a compromise.
Unprecedented Economic and Social Impact
The extended closure inflicted severe damage across multiple sectors. Businesses relying on federal contracts experienced substantial losses, while vulnerable communities faced immediate hardship. The Fort Peck Assiniboine & Sioux tribe had to slaughter buffalo herds to feed their community when federal funding dried up.
College students dependent on federal SNAP benefits turned to campus emergency services for food. Thousands of federal workers went without paychecks, creating ripples throughout local economies. The compromise bill sparked fierce congressional debate, with Democratic leaders including Nancy Pelosi objecting to provisions targeting Medicaid and Medicare funding.
House Speaker Mike Johnson pushed the deal through despite opposition, emphasizing the need to prevent further economic deterioration. The bipartisan Senate vote reflected urgent pressure to end the standoff.
Fed Faces December Meeting Without Critical Data
The Federal Reserve now confronts a significant challenge as it approaches its December policy meeting. The government failed to release crucial October employment and inflation data during the shutdown, leaving central bankers with incomplete information. Some datasets may have been permanently skipped rather than delayed.
This data blackout forces the Fed to make monetary policy decisions with reduced visibility into economic conditions. Analysts expect the central bank to adopt a cautious approach, likely maintaining current interest rates or implementing modest cuts to support growth amid heightened uncertainty.
While data collection can now resume, economists warn it will take considerable time to rebuild a complete picture of economic health. The missing October reports create a gap that cannot be easily filled.
Crypto Regulation Returns to Normal Speed
Federal agencies overseeing cryptocurrency markets are preparing to restart regular operations. The SEC, CFTC, IRS, and OCC will resume rulemaking activities, enforcement actions, and regulatory analysis that stalled during furloughs. This development carries particular significance for pending crypto product approvals.
Multiple ETF applications awaiting SEC review had been frozen during the shutdown. The resumption of normal operations should accelerate these approval processes, potentially bringing new investment products to market faster. Industry observers anticipate renewed momentum in regulatory decisions that had been stuck in limbo.
The restart also affects broader legislative initiatives, including the Senate Agriculture Committee’s draft bill to grant the CFTC oversight authority for crypto spot markets. The confirmation hearing for the new CFTC commissioner and progress on the GENIUS Act can now move forward after weeks of delay.
Lingering Questions About Future Stability
While federal operations are resuming, uncertainty remains about whether this agreement prevents future shutdowns. The deal’s sustainability depends on continued bipartisan cooperation, which has proven fragile in recent years. Contractors, federal employees, and affected communities will continue feeling the shutdown’s effects for months.
The crypto industry gains clarity as regulatory agencies return to work, but the broader economic uncertainty created by the shutdown persists. Markets will be watching closely to see how quickly federal agencies can restore normal function and whether missing data will influence upcoming policy decisions.
