The SEC’s statement regarding the commission doesn’t really provide much insight into what it will seek to do, other than “provide clarity” on the rules regulating the crypto industry. It will likely achieve that by just stripping back those rules altogether,

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.