Bitcoin, the world's largest cryptocurrency, approached the previous session's record high on Tuesday in choppy trading as the top U.S. markets regulator unveiled a plan to overhaul rules for the sector.

It’s still early days, but the kickoff of President Donald Trump’s second term appears to have left some crypto investors disappointed so far.

Bitcoin and the wider crypto market held gains sparked by the launch of a Securities and Exchange Commission task force on US digital-asset regulations, part of President Donald Trump’s wider embrace of the sector.

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.