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 Trump administration took its first steps Tuesday toward an expected lowering of regulatory barriers for cryptocurrency.

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.

The group led by Commissioner Hester Peirce will take input from within and outside the agency to create a clear regulatory framework for crypto assets.

Bitcoin (BTC) and the crypto market saw a slight uptick following Securities & Exchange Commission (SEC) acting chairman Mark Uyeda’s announcement of the creation of a crypto task force on Tuesday, led by Commissioner Hester Peirce, aiming to guide the agency toward a more practical regulatory framework for digital assets.