Investing.com -- Bitcoin (BitfinexUSD) climbed as the Security and Exchange Commission said Tuesday its acting Chair Mark Uyeda is forming a cryptocurrency task force to bring regulatory clarity to the industry.
Bitcoin (BitfinexUSD) was up 3% to 106,040 in recent trading.
The SEC’s move is aimed at "developing a comprehensive and clear regulatory framework for crypto assets." The announcements fueled further optimism that under a second Trump administration, the regulatory burden for crypto assets will likely be lowered.
Bitcoin has jumped more than 50% since Trump’s Nov. 5 election victory, with many expecting that the president to make good on his campaign promise to make the United States the crypto capital of the world.
Uyeda succeeds Gary Gensler, who stepped down on Jan. 20, and some believed was too aggressive in his oversight of crypto assets.