The U.S. Securities and Exchange Commission said on Tuesday it was forming a new cryptocurrency task force to develop a comprehensive and clear regulatory framework for crypto assets. President Donald Trump,

Wall Street’s securities watchdog has made it easier for banks to expand their cryptocurrency businesses by overturning a Biden administration rule that made it prohibitively expensive to hold digital assets.

The Securities and Exchange Commission reversed a controversial accounting rule Thursday, which had helped deter banks from participating in crypto services. Why it matters: The move to rescind the guidance,