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Pressure Regulating is to maintain the pressure of a device to a specified value through all operation circumstances.
Pressure relieve valves are valves that will vent a device at a preset pressure. They are typically safety devices.
Pressure release valves are manual valves which releases the device pressure on demand.
I agree with Mr .Samer answer ...thanks
I AGREE WITH MR SAMER ANSWER
Beautiful Answer Given by Mr. Samer Draidi No need to add more.
Basically its three types of valves which cover your Question.
1. Pressure Regulating Valve:
Its application is to reduce the pressure downstream to the valve from the higher supply pressure to the lower operating pressure in a system.
2. Pressure Release Valves:
Typical application cover the release of pressure from the piping to do maintenance after isolation. It just release the pressure and make piping free of water.
3. Pressure Relief Valves:
These valves are usually spring or Diaphragm type valves which are given a set point of pressure, and if the pressure in piping increase to that point, the valve will open to protect the piping.
I agree with all answers above