The Securities and Exchange Commission has scaled back a team of more than 50 lawyers mobilized for crypto enforcement, The New York Times reported Tuesday.

The announcement comes after one of President Donald Trump’s first executive orders to eliminate “regulatory overreach” of digital assets. Acting SEC Chair Mark T. Uyeda, a Republican supporter of crypto, has appointed Commissioner Hester Peirce to lead a task force reviewing the agency’s approach. Peirce is also a supporter of crypto.

On Tuesday, Peirce published a paper on the SEC’s website criticizing the commission’s past approach to regulating digital assets.

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