Shutdown Nears Possible End Amid Crypto Policy Delays
White House economic adviser Kevin Hassett has hinted that the ongoing U.S. government shutdown could wrap up "sometime this week," potentially clearing the path for long-delayed crypto regulatory initiatives.
Kevin Hassett told CNBC on Monday that the government shutdown is “likely to end sometime this week.”
But if that doesn’t happen, the Trump administration may impose “stronger measures” to force Democrats to cooperate. Read his full comments. ⬇ https://t.co/Pr30PXHyc0
— CNBC (@CNBC) October 20, 2025
Speaking on CNBC’s Squawk Box on Monday, Hassett said he believes the "Schumer shutdown" — referring to Senate Minority Leader Chuck Schumer — is nearing resolution. "The moderate Democrats will move forward and get us an open government, at which point we could negotiate whatever policies they want with regular order," he stated.
The shutdown, which began on October 1, has stretched into its 20th day, marking the third longest in U.S. history. Hassett added that if bipartisan negotiations fail, the Trump administration could impose "stronger measures" to compel cooperation from Democrats.
Crypto Decisions on Hold as Regulators Wait
The budget standoff has frozen several key crypto-related processes, including final approvals for exchange-traded fund (ETF) applications tied to Litecoin (LTC), XRP, and Solana (SOL). The U.S. Securities and Exchange Commission (SEC) has been unable to issue rulings as staffing remains limited during the shutdown.
Hassett, a known crypto advocate and one of President Trump’s top picks to replace Federal Reserve Chair Jerome Powell in 2026, previously disclosed over $1 million worth of holdings in Coinbase earlier this year — a signal of his strong confidence in the crypto sector.
Lawmakers and Industry Leaders Continue Talks
Despite the shutdown, crypto advocacy within Washington hasn’t entirely paused. According to reports, Democratic senators are preparing to host a roundtable discussion on Wednesday with executives from Coinbase, Circle, Ripple, and other leading firms. The meeting aims to advance the U.S. crypto market structure bill, a long-anticipated framework that could define how digital asset trading and custody are regulated nationwide.
Earlier in mid-September, a bipartisan group of U.S. lawmakers also met with MicroStrategy’s Michael Saylor and 17 other crypto executives to discuss the Strategic Bitcoin Reserve initiative. The meeting explored how the BITCOIN Act, sponsored by Senator Cynthia Lummis, could allow the government to accumulate Bitcoin in budget-neutral ways.