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.

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.

With Donald Trump in the White House, the new-look SEC is taking aim at its past crypto regulation tactics and developing a new path forward.