As a seasoned researcher with years of experience navigating the tumultuous waters of Washington D.C., I can’t help but feel a sense of déjà vu as another potential government shutdown looms on the horizon. Having lived through several shutdowns, I’ve learned to stockpile snacks and batteries for my emergency radio.
The U.S. Securities and Exchange Commission (SEC) has been making arrangements in anticipation of a possible federal government closure, as suggested by their latest announcement.
The agency has announced that it will prioritize crucial functions such as market integrity and investor protection.
The agency has made it clear that their internal system for monitoring government filings through EDGAR will continue to function effectively.
In case of a possible government shutdown, the agency may need to temporarily halt certain non-critical functions.
On Wednesday, it was postponed in the House of Representatives a vote on a unified funding bill for the government, leading to worries about a possible closure.
It seems that the government may be on the brink of another shutdown due to the current turmoil in Congress. This could mean that government employees won’t receive their pay during the holiday season and it might interfere with services like food aid, among others.
In the event of a government shutdown, only critical services like emergency responses will persist; however, these services may encounter substantial difficulties.
It’s likely that the Securities and Exchange Commission (SEC) will stop conducting regular checks on different types of filings, such as those related to ETF applications. Yet, they will retain the ability to bring charges for cases involving fraudulent activities or market manipulation.
It appears that Commissioner Caroline Crenshaw, who has been vocal about her skepticism towards cryptocurrency, is expected to depart from the SEC as senators did not confirm her renewed appointment this past week.
Following a report by U.Today, it appears that the agency may find itself with three Republican commissioners starting in early 2025, as Paul Atkins, known for his pro-crypto stance, looks set to take over from Gary Gensler at that time.
To maintain a balanced perspective within the agency, it’s essential to appoint two commissioners from the Democratic party. However, it’s highly improbable that Crenshaw will be among those appointed.
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2024-12-19 19:00