FameEX Morning Crypto News Recap | February 5, 2025

Trump Administration Reduces Scope of SEC Cryptocurrency Enforcement Team

The Trump administration is reducing the SEC's cryptocurrency enforcement group, which previously included over 50 staff members. This move is part of President Trump's broader efforts to minimize cryptocurrency regulation, fostering the industry's growth while addressing concerns about excessive oversight.

SEC to Offer Temporary, Retroactive Relief for Crypto Assets

SEC Commissioner Hester Peirce announced that the U.S. Securities and Exchange Commission (SEC) will offer interim and retroactive relief for token issuances, under specific conditions. These include providing updated information, evaluating crypto assets' securities status, and agreeing not to challenge the SEC’s jurisdiction in cases involving alleged fraud.

Republican Senators to Introduce Stablecoin Regulation Bill, Backed by President Trump

On February 4, Republican Senator Bill Hagerty will introduce a stablecoin regulatory framework bill. The proposed bill aims to establish clear and predictable regulations for U.S. dollar-pegged stablecoins. It is supported by President Trump.

U.S. Congress to Form Cryptocurrency Working Group

On February 5, U.S. House Financial Services Committee Chairman French Hill announced that both houses of Congress will establish a cryptocurrency working group.

Federal Reserve Governor Jefferson: No Urgency to Cut Interest Rates, Strong Economy Calls for Cautious Approach

Federal Reserve Governor Jefferson emphasized that there is no urgency to cut interest rates due to the strong economy, advocating for a cautious approach. He anticipates inflation will decline gradually, with potential interest rate reductions in the medium term.

Trade War Could Push Ethereum Price Down to $2200-$2400

Andrew Kang of Mechanism Capital stated that a trade war could cause Ethereum to drop back to the $2200-$2400 range.

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