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’s new crypto task force will also coordinate with the Commodity Futures Trading Commission (CFTC) – which, under the leadership of former Chair Gensler and former CFTC Chairman Rostin Behnam, has been locked in competition with the SEC over which agency should be the primary regulator of the crypto industry.

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.”