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 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.