In a significant move to reshape the regulatory landscape for cryptocurrencies, the U.S. Securities and Exchange Commission (SEC) has launched a new crypto task force aimed at developing clear regulations for the industry. Acting Chairman Mark Uyeda, appointed by President Trump, is leading the initiative, which includes well-known crypto advocate Hester Peirce. The task force is expected to focus on updating existing regulations and creating a more favorable environment for digital assets, potentially easing enforcement actions and facilitating growth in the crypto sector. Bitcoin and other cryptocurrencies have seen a positive market reaction since the announcement, reflecting growing optimism among investors and industry stakeholders.