President Donald Trump has elevated Republican Commissioner Mark Uyeda to take over the SEC from a now-departed Gary Gensler.

Just a day after his designation as SEC Acting Chair, Mark Uyeda has already made a significant move in favor of the cryptocurrency industry, establishing a crypto Task Force to be led by none other than the community's beloved "Crypto Mom,

SEC, under acting chair Mark Uyeda has launched a crypto task force. “Crypto Mom” Hester Peirce will spearhead the initiative. The task force aims to

The SEC’s statement regarding the commission doesn’t really provide much insight into what it will seek to do, other than “provide clarity” on the rules regulating the crypto industry. It will likely achieve that by just stripping back those rules altogether,

But by associating himself so closely with meme coins, some crypto fans worry that Trump hurts his ability to enact reforms