US Senate Confirms Treasury Official as Government Shutdown Continues

The US Senate confirmed Jonathan McKernan as Under Secretary for Domestic Finance at the Treasury Department with a vote of 51 to 47. Despite the government shutdown that began after Congress failed to pass a funding extension beyond September 30, Congress can continue confirming nominations. McKernan, who was nominated by President Trump in June, has expressed skepticism towards debanking policies, though he hasn't linked them directly to digital assets. As he assumes his role, he will support issues surrounding the US economy, including the consideration of a central bank digital currency. The shutdown has led to legislative stalls, notably impacting efforts to pass a Republican stopgap funding bill and hindering regulatory progress at the SEC, particularly regarding exchange-traded funds. Lawmakers are expected to need bipartisan support to navigate the shutdown and resume essential funding and legislative activity.

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