The SEC and CFTC are about to resume operations, and progress is expected in ETF applications and encryption spot Margin Trading.

BlockBeats news, on November 14, the SEC and CFTC are about to resume operations after a 43-day government shutdown. According to the operational plans of the two agencies, employees will return to work “on the next regular working day after the appropriations bill officially takes effect.” During the government shutdown, both agencies significantly reduced their workforce, and business almost came to a standstill. The SEC's review capacity was severely restricted, especially for the approval of applications for exchange-traded funds (ETFs, including crypto-related ETFs), which basically came to a halt. The CFTC “stopped most of its business,” including enforcement, market oversight, and regulatory rule-making. After the government reopens, the SEC and CFTC will need some time to process backlogged affairs, including registration applications submitted during the past 43 days. Some crypto companies learned towards the end of the shutdown that it was about to end and rushed to submit IPO and ETF applications. SEC Chairman Atkins recently revealed that the SEC plans to “establish a token taxonomy” in the coming months, anchored by the Howey test. CFTC Acting Chairman Pham stated that the commission has been pushing to approve leveraged spot crypto trading as early as December.