US shutdown ends, crypto progress resumes as Trump signs bill
US President Donald Trump has signed off on a funding bill passed by the House of Representatives on Wednesday, officially bringing an end to the record 43-day government shutdown.
The funding bill went through the Senate on Monday and passed the House of Representatives on Wednesday, with Trump signing the bill just hours later to get the government back up and running.
Healthcare funding was one of the sticking points that halted the bill, with Democrats pushing to increase support, while Republicans sought to address the issue after the bill had passed.
After signing the bill, President Trump indicated that he may be willing to work with the Democrats to iron out these issues.
“I’m always willing to work with anyone, including the other party,” Trump said, adding:
“We’ll work on something having to do with health care. We can do a lot better.”
The latest shutdown, which has become an almost annual affair, was the longest on record at 43 days.
The bill itself enables funding to support government operations until Jan. 30, and gives more time for Democrats and Republicans to strike a deal for broader funding plans across 2026.
What does it mean for crypto
The reopening of the government will see staff return to crypto-related agencies, such as the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).
Crypto ETF issuers have been waiting for the SEC to approve a host of potential spot-crypto exchange-traded fund applications. Meanwhile, the CFTC has already pushed forward with plans for a Nov. 19 confirmation hearing of Mike Selig, Trump’s top pick to head the agency.
Related: SEC chair pledges no ‘lax enforcement’ on crypto under market structure
The Treasury should now also be positioned to sift through public feedback on the stablecoin-focused GENIUS Act, which was compiled between early October and the start of November.
Despite this, the crypto markets have responded flatly to the end of the government shutdown, with Bitcoin price action being minimal.
In past instances, the resumption of the US government has led to major rallies.
Magazine: If the crypto bull run is ending… it’s time to buy a Ferrari: Crypto Kid
Cryptocurrency scammers have impersonated Australian police and exploited government infrastructure to pressure victims into handing over their digital assets, the Australian Federal Police (AFP) said Thursday.
The AFP said scammers used the local cybercrime reporting tool ReportCyber to submit reports about their targets. At a later time, they contact the victims posing as police and inviting them to check the report on government websites, lending credibility to the scammers.
In one case, the scammers warned the victim that they would be contacted by a representative from a crypto company, who would also provide information to prove their legitimacy. This second caller then attempted to persuade the target to transfer money from their platform wallet to a wallet of their choice.
“Thankfully the target became suspicious and hung up,“ the AFP said.
Related: Australia unmasks $123M crypto laundering ring behind security firm
A game of pretend
AFP Detective Superintendent Marie Andersson said the scammers falsely claimed that an individual had been arrested and the victim identified in an investigation involving a crypto breach. She noted that the scammers’ verification steps often resembled legitimate law-enforcement procedures, making the scheme “highly convincing” to some victims.
Andersson said this was part of a broader trend in scams becoming increasingly sophisticated. She encouraged “Australians to adopt necessary safety measures online” and warned that “if you’re contacted by someone about a ReportCyber report you didn’t lodge or authorise someone to make on your behalf, terminate the call and notify ReportCyber.
“Also bear in mind legitimate law enforcement officials will never request access to your cryptocurrency accounts, wallets, bank accounts, cryptocurrency wallet seed phrases, or any personal information relating to your financial accounts.”
Related: Australian feds seize mansion, Bitcoin allegedly linked to crypto exchange hack
Australia cracks down on crypto crime
In late October, the AFP announced that it had cracked a coded cryptocurrency wallet backup containing 9 million Australian dollars ($5.9 million) — suspected to be the proceeds of a crime.
In late August, Australia’s markets regulator was reported to be expanding its campaign against online scams, having taken down 14,000 since July 2023, with over 3,000 involving cryptocurrency.
In July, authorities in the Australian island state of Tasmania found that the top 15 users of crypto ATMs in the state were all victims of scams, with combined losses of $1.6 million.
Magazine: Crypto scam hub expose stunt goes viral, Kakao detects 70K scam apps: Asia Express
Taiwan is preparing to issue a report on its Bitcoin holdings, signaling that officials are weighing whether the country should follow the United States in creating a national Bitcoin reserve.
Zhuo Rongtai, premier of the Republic of China (Taiwan), said the country is preparing a report to assess the total amount of Bitcoin (BTC) confiscated by domestic agencies.
The report will be issued before the end of the year, said Rongtai during a legislative general fiscal inquiry meeting with the Finance Committee on Tuesday.
When asked about the fate of the confiscated Bitcoin, legislator Ge Rujun proposed that Taiwan’s government “hold it unchanged” before deciding whether to liquidate the assets or include them in a strategic reserve, according to local media outlet Blocktempo.
Rongtai’s forthcoming report will also include a list of “pros and cons” for creating a strategic Bitcoin reserve, marking the first time Taiwanese officials have publicly considered BTC as a reserve asset.
The premier’s pledge to “study” Bitcoin for a strategic reserve asset and draft more Bitcoin-friendly regulations in the next six months is a “breakthrough” for the country, wrote Ko Ju-Chun, a lawmaker in Taiwan’s unicameral legislature, the Legislative Yuan, in a Tuesday X post.
Related: Crypto’s yield gap with TradFi narrows as staking, RWAs surge
Governmental interest in Bitcoin started rising after March 7, when US President Donald Trump signed an executive order outlining a plan to create a Strategic Bitcoin Reserve, initially using cryptocurrency forfeited in government criminal cases, Cointelegraph reported.
The Bitcoin reserve marked the “first real step toward integrating Bitcoin into the fabric of global finance, acknowledging its role as a foundational asset for a more stable and sound monetary system,” said Joe Burnett, head of market research at Unchained, at the time.
Related: Taiwan charges suspects in record $72M crypto laundering scheme
Taiwan legislators are calling for a Bitcoin reserve as a hedge against global uncertainty
While Taiwan has yet to make an official move, lawmakers have previously called for the creation of a Bitcoin reserve.
In May, Ju-Chun called for the government to consider adding Bitcoin to its national reserve, citing Bitcoin’s potential to serve as a hedge amid global economic uncertainty, during a speech to the Taiwanese government at the National Conference on May 9.
The lawmaker previously suggested a maximum allocation of 5% of Taiwan’s $50 billion reserve.
Taiwan has been exploring more crypto-friendly regulations to bolster institutional cryptocurrency adoption. In October 2024, the Financial Supervisory Commission (FSC) of Taiwan announced the launch of a trial for crypto custody services for financial institutions.
Magazine: How Chinese traders and miners get around China’s crypto ban
The crypto community is bracing for the launch of the first spot XRP exchange-traded fund (ETF) after Nasdaq certified the listing of Canary Capital’s XRP ETF.
The Nasdaq Stock Market exchange on Wednesday officially notified the US Securities and Exchange Commission that it has received the Form 8‑A filing for the Canary XRP ETF (XRPC).
“The official listing notice for XRPC has arrived from Nasdaq,” Bloomberg’s senior ETF analyst Eric Balchunas wrote on X, adding: “Looks like tomorrow is on for the launch.”
While ETF watchers expect Canary’s spot XRP (XRP) ETF to debut trading on Thursday, the SEC has yet to issue its final approval for trading to commence, leaving the debut uncertain heading into the market open.
The sixth single crypto asset ETF
Nate Geraci, president of NovaDius Wealth Management, took to X on Thursday to report that Canary had launched its website for the Canary XRP ETF, highlighting the likely soon-to-come trading launch.
“Canary Capital will be first to market,” Geraci said, adding that its XRP ETF would be the sixth single crypto asset in the ETF wrapper after Bitcoin (BTC), Ether (ETH), Solana (SOL), Litecoin (LTC) and Hedera (HBAR).
Other industry observers, including Crypto America’s Eleanor Terrett, shared optimism on X, noting that Nasdaq had “cleared XRPC for launch at market open” on Thursday, but some cautioned that the exchange’s letter was procedural and does not authorize trading.
Related: Canary Capital filing signals spot XRP ETF set for launch this week
“The Nasdaq letter itself does not say the ETF is effective — it only says Nasdaq approved the listing and joined the registrant’s request for SEC effectiveness,” one commentator wrote, adding that the certification is a “routine procedural letter, not confirmation that trading will start.”
Canary’s highly anticipated XRP ETF launch comes after weeks of speculation, with ETF experts such as Geraci predicting its debut two weeks ago. The potential launch follows closely on the heels of US President Donald Trump signing a bill on Wednesday to officially end the longest government shutdown in history.
While Bitcoin and Ether ETFs each began trading the day after their respective SEC approvals, newer ETFs such as Solana, Litecoin and Hedera launched the next day after their exchange listings under the regulator’s newly adopted procedures.
With trading going live on Oct. 28, some ETF observers have suggested that these new crypto funds relied on “automatic effectiveness” provisions during the government shutdown.
Magazine: Bitcoin’s ‘speed bump’ to $56K? Ripple rejects IPO plans: Hodler’s Digest, Nov. 2 – 8
-
Sports2 years agoStory injured on diving stop, exits Red Sox game
-
Sports3 years ago‘Storybook stuff’: Inside the night Bryce Harper sent the Phillies to the World Series
-
Sports2 years agoGame 1 of WS least-watched in recorded history
-
Sports3 years agoButton battles heat exhaustion in NASCAR debut
-
Sports3 years agoMLB Rank 2023: Ranking baseball’s top 100 players
-
Sports4 years ago
Team Europe easily wins 4th straight Laver Cup
-
Environment2 years agoJapan and South Korea have a lot at stake in a free and open South China Sea
-
Environment1 year agoHere are the best electric bikes you can buy at every price level in October 2024