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

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.