Government Shutdown Stalls SEC Work on Crypto and Tokenization

As of October 2025, the U.S. government shutdown has forced the Securities and Exchange Commission (SEC) to pause major operations, including regulatory initiatives on digital assets and tokenization frameworks. Most SEC staff are furloughed, halting progress on crypto-related rulemaking, ETF approvals, and enforcement actions. Pending cryptocurrency ETF applications, such as those for Solana, face delays until funding is restored, creating temporary uncertainty for investors and crypto firms awaiting regulatory clarity.