In recent developments within the cryptocurrency sector, US President Donald Trump's administration, through crypto czar David Sacks, announced plans to regulate and bring stablecoin market activities onshore. Currently, stablecoins make up a $227 billion industry, overwhelmingly dominated by US dollar-pegged tokens like Tether's USDT. Sacks highlighted the potential for stablecoins to enhance the dollar's international dominance and possibly create significant demand for US Treasurys. Meanwhile, the US Securities and Exchange Commission (SEC) is reportedly restructuring its crypto unit, moving some lawyers around and considering retroactive relief for past token offerings as part of a broader shakeup. SEC Commissioner Hester Peirce indicated that the agency would examine the security status of different crypto assets, indicating possible changes in regulatory clarity. The SEC's new Crypto Task Force aims to provide both prospective and retroactive solutions to improve governance in the crypto space.

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