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.

The SEC launches a task force to create clear crypto regulations, supporting innovation while ensuring investor protection.

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.”