The U.S. Securities and Exchange Commission's new leadership said on Tuesday it had created a task force to develop a regulatory framework for crypto assets, in the first major move by President Donald Trump's new administration to overhaul crypto policy.

The US Securities and Exchange Commission will launch a cryptocurrency-focused task force to come up with ways to regulate the market, in one of the first moves by the agency after the resignation of crypto skeptic Gary Gensler.

The U.S. Securities and Exchange Commission (SEC) announced the creation of a cryptocurrency task force on Jan. 21, 2025, a day after former Chair Gary Gensler resigned.

The SEC announced an initiative Tuesday to create a regulatory framework for digital assets with a new internal task force led by Republican commissioner Hester Peirce.

Bitcoin and the wider crypto market held gains sparked by the launch of a Securities and Exchange Commission task force on US digital-asset regulations, part of President Donald Trump’s wider embrace of the sector.

The SEC rolled out a new crypto task force on Tuesday, aimed at helping "draw clear regulatory lines" in the space, the agency said.

The U.S. Securities and Exchange Commission said on Tuesday it was forming a new cryptocurrency task force "dedicated to developing a comprehensive and clear regulatory framework for crypto assets." The task force's focuses "will be to help the Commission draw clear regulatory lines,