US SEC Crypto Task Force Holds First Roundtable Amid Trump’s Push for Regulatory Overhaul

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The U.S. Securities and Exchange Commission (SEC) crypto task force convened its first public meeting on Friday, focusing on how existing securities laws might be applied to the rapidly evolving digital asset market. The session is part of a broader push to establish clearer guidelines as the Trump administration looks to reshape the U.S. regulatory landscape for cryptocurrency.

Key figures at the roundtable included John Reed Stark, former head of the SEC’s Office of Internet Enforcement, Miles Jennings, general counsel for a16z crypto, and former SEC Commissioner Troy Paredes. Leading the task force is Republican SEC Commissioner Hester Peirce, who emphasized that the meeting marked a “new beginning” in the commission’s approach to crypto regulation.

The crypto industry has long contended with the SEC over how digital assets should be classified under federal securities laws. Many within the sector argue that tokens should be treated as commodities, not securities, which would exempt them from the SEC’s registration and disclosure requirements.

Trump, who campaigned as a “crypto president,” has pledged to reverse the regulatory crackdown initiated under the Biden administration. This includes withdrawing or pausing several legal cases against crypto companies like Coinbase and Kraken. The task force discussed the potential need for a distinct regulatory framework tailored specifically to digital assets, rather than applying traditional securities laws.

While some, like Jennings, advocated for a “technology-neutral” approach, others, such as Democratic SEC Commissioner Caroline Crenshaw, expressed concern over loosening regulations for cryptocurrencies. Crenshaw warned that creating a separate regulatory regime could weaken protections and harm broader market stability.

This meeting is part of Trump’s broader effort to overhaul U.S. cryptocurrency policies, including his recent executive order to establish a strategic reserve of digital assets and a summit for industry leaders at the White House.

ByteDance Investors Lead Talks on TikTok U.S. Spin-Off Amid National Security Concerns

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Discussions surrounding the future of TikTok are gaining momentum, with the leading non-Chinese investors in its parent company ByteDance taking the reins in talks with the White House. The proposed plan involves spinning off TikTok’s U.S. operations into a separate entity while reducing Chinese ownership to below 20% to meet U.S. legal requirements and avoid a potential ban.

Key figures in the talks include Jeff Yass’ Susquehanna International Group and Bill Ford’s General Atlantic, both of which have stakes in ByteDance and sit on its board. Private equity firm KKR is also reportedly involved in the negotiations. The proposed spin-off would see these investors increase their stakes, and software giant Oracle would continue managing U.S. user data, ensuring it remains inaccessible to Chinese authorities.

This plan follows a law passed in January that mandates ByteDance either sell TikTok or face a national security ban, citing concerns over the app’s ties to the Chinese government. While TikTok has defended its operations, emphasizing the independence of its U.S. data storage and content moderation practices, the law reflects broader concerns in Washington about potential influence operations through the app.

The ongoing discussions have significant implications for TikTok’s future in the U.S., where nearly half of Americans use the app. With the deadline for compliance set for April 5, U.S. investors are moving quickly to finalize the deal, which could potentially reshape the app’s ownership structure while addressing security concerns.

Tencent Unveils T1 Reasoning Model Amid Intense AI Competition in China

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Tencent, the Chinese tech giant, has officially launched its T1 reasoning model, marking a significant step in the intensifying competition in China’s artificial intelligence (AI) sector. The official version of T1, announced on Friday night, offers faster response times and enhanced capabilities for handling extended text documents. The company highlighted that the model’s content logic remains clear, and the text is neat and clean, with a notably low hallucination rate.

This release comes at a time when China’s AI landscape is becoming increasingly competitive, particularly after DeepSeek introduced models that are said to offer comparable or even superior performance to Western counterparts at much lower costs. Tencent had previously released a preview version of T1 via platforms such as its AI assistant app, Yuanbao, but the official version is now powered by Tencent’s Turbo S foundational language model, which was unveiled late last month.

According to a comparison chart shared in the announcement, Tencent’s T1 model outperformed DeepSeek’s R1 model on certain knowledge and reasoning benchmarks. This new development is part of Tencent’s broader push to accelerate its AI investments, which include plans to significantly increase capital expenditures in 2025 following a strong focus on AI spending throughout 2024.