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,

Bulls hope the new initiative is a sign the president remains committed to the sector, after his first day in office left them feeling underwhelmed.

The Working Group will function under the oversight of Trump's AI and crypto Czar David Sacks. Other delegates will include the Securities & Exchange Commission (SEC) acting Chair Mark Uyeda, the Secretary of the Treasury, with other key federal department heads.