The US Securities and Exchange Commission will launch a cryptocurrency-focused task force to come up with ways to regulate the market, in one of the first moves by the agency after the resignation of crypto skeptic Gary Gensler.

Crypto bros rejoiced Tuesday after President Donald Trump’s revamped Securities and Exchange Commission (SEC) launched a new cryptocurrency task force led by Hester Peirce, known by some in the industry as “crypto mom.”

President Donald Trump 's newly appointed Securities and Exchange Commission acting chairman, Mark Uyeda, announced the launch of a cryptocurrency task force to be led by Republican commissioner Hester Peirce.