President Donald Trump has appointed SEC Commissioner Mark Uyeda as the acting chair of the U.S. Securities and Exchange Commission (SEC), effective immediately. Uyeda's appointment follows the resignation of former SEC Chair Gary Gensler. Uyeda will serve until June 5, 2026, when Paul Atkins, nominated by Trump as the permanent chair, is expected to take office. Uyeda, known for his advocacy of digital assets, has criticized the SEC's previous regulatory approach to cryptocurrencies, calling for clearer guidelines. The SEC has also announced the formation of a new cryptocurrency task force, led by Commissioner Hester Peirce, to develop a comprehensive regulatory framework for the $3.7 trillion crypto industry. This task force aims to provide regulatory clarity and work judiciously with enforcement resources, while also collaborating with Congress and other federal agencies on crypto-related legislation. Following the announcement, Bitcoin's price increased by 2.4%, surpassing $106,000.