"When the U.S. Government Shut Down, Altcoin ETF Processes Were Suspended."

The shutdown of the US government stands out as an important development for cryptocurrency investors. ETF applications prepared for Litecoin (LTC), Solana (SOL), and XRP have been suspended by the Securities and Exchange Commission (SEC). This situation has led investors and market analysts to feel the need to pay close attention and follow the process.

The government shutdown brings federal agencies to a standstill, affecting the SEC’s routine approval processes. During these days, when officials can only act in emergencies, the SEC’s Corporate Finance Division can engage in cases of fraud or market instability. However, this means that ETF applications are on hold for an indefinite period.

Bloomberg ETF analyst Eric Balchunas described the situation as a “between rain” scenario, emphasizing that the process is completely on hold. While this creates uncertainty for investors, it also raises the possibility of a wave of ETFs coming after the SEC becomes functional again post-shutdown.

Moreover, according to information shared by Crypto in America, the SEC requested some exchange partners to withdraw their 19b-4 applications made on behalf of crypto ETF issuers before the shutdown. This indicates that, in the new system, ETFs may be implemented gradually without waiting for individual file approvals. In other words, with the reopening of the government, investors could expect a wave of ETFs.

Additionally, Roman Storm, one of the founders of Tornado Cash, has filed a new motion in court to reduce his conviction stemming from charges of illegal money transfer. Storm’s lawyers argued that Tornado Cash is an “open-source, immutable software” and claimed that their client had no control over it during this process. The US Department of Justice stated that Storm is liable because he did not prevent criminals from using the platform.

In conclusion, investors should closely monitor the SEC’s recovery and potential ETF approvals. With the government reopening, it is highly likely that uncertainties will come to an end and market activity will increase.