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

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 said on Tuesday it was forming a new cryptocurrency task force to develop a comprehensive and clear regulatory framework for crypto assets. President Donald Trump,

Bulls hope the new initiative is a sign the president remains committed to the sector, after his first day in office left them feeling underwhelmed.