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.”

The acting chair of the Securities and Exchange Commission named Republican Commissioner Hester Peirce as the head of a new cryptocurrency task force, the first step in an expected about-turn by the Wall Street regulator on crypto.

The SEC announced an initiative Tuesday to create a regulatory framework for digital assets with a new internal task force led by Republican commissioner Hester Peirce.

SEC forms crypto task force led by Commissioner Peirce to develop clear regulatory framework, address legal uncertainty and promote innovation.

The U.S. Securities and Exchange Commission (SEC) announced the creation of a cryptocurrency task force on Jan. 21, 2025, a day after former Chair Gary Gensler resigned.

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Uyeda will serve as the interim head of Wall Street’s top cop while Trump’s pick for permanent chair, Paul Atkins, waits to be confirmed by the Senate.

This undertaking will take time, patience, and much hard work,” Peirce said, adding the agency plans to encourage a regulatory environment that “protects investors, facilitates capital formation, fosters market integrity,

Mark Uyeda will serve as interim Securities and Exchange Commission Chair, while Paul Atkins awaits confirmation.

Dogecoin is the seventh-largest cryptocurrency by market cap, currently sitting around $54 billion.Doge has taken on new life in recent months thanks to the establishment of the Department of Government Efficiency.

Dogecoin (DOGE) fans cheered as Bitwise Asset Management filed for a Dogecoin exchange-traded fund (ETF) in Delaware.