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 acting chair of the Securities and Exchange Commission named Republican Commissioner Hester Peirce as the head of a new cryptocurrency task force, the first step in an expected about-turn by the Wall Street regulator on crypto.

President Donald Trump, a crypto entrepreneur, has pledged his new administration will work to promote the industry's interests, unlike the prior administration which had clashed with it. Reuters reported this month that Commissioner Mark Uyeda,

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,