US Senators Introduce SAFE Crypto Act to Strengthen Federal Fight Against Scams
U.S. Senators Elissa Slotkin of Michigan and Jerry Moran of Kansas have introduced bipartisan legislation aimed at strengthening federal efforts to combat -related fraud, as scams tied to digital assets grow more frequent and complex.
The bill, known as the Strengthening Agency Frameworks for Enforcement of Cryptocurrency (secure Crypto) Act, the creation of a federal task force to coordinate the government’s response to crypto scams.
The task force would bring together the U.S. Treasury Department, law enforcement agencies, financial regulators, and private-sector experts to improve the identification, tracking, and disruption of fraudulent activity across the crypto ecosystem.
Federal Task Force to Coordinate Anti-Fraud Efforts
According to the senators, the initiative is designed to close coordination gaps between agencies, support local law enforcement with better investigative tools, and improve public awareness to assist Americans protect themselves from .
The task force would also provide Congress with regular updates on emerging threats and enforcement progress.
“It’s critical we protect Americans against scams in all industries, but especially cryptocurrency as it becomes more popular,” Senator Slotkin said.
She added that the legislation focuses on equipping local law enforcement with the tools needed to combat crypto scams while ensuring the public understands how to secureguard their money.
“This task force, established by the secure Cryptocurrency Act, will allow us to draw upon every resource we have to combat fraud in digital assets.”
Public-Private Collaboration to Disrupt Crypto Scams
Senator Moran said the bill responds to the growing scale of payment fraud and financial scams across the United States. “With fraud and other payment scams continuing to grow, protecting the financial security and well-being of Kansans is critical,” he said.
Moran noted that the proposed task force would strengthen coordination between government agencies, law enforcement, and the financial services industry as cryptocurrency adoption expands.
The legislation also emphasizes public-private collaboration, particularly the use of blockchain intelligence to detect and disrupt illicit activity in real time. Ari Redbord, vice president and global head of policy at said billions of dollars in scams and fraud have been tracked across the crypto sector in recent years, underscoring the need for quicker intervention.
“This legislation enables public-private collaboration using blockchain intelligence to track, interdict, and disrupt illicit networks as activity is occurring,” Redbord said, adding that such coordination could assist protect victims and improve overall financial security.
The secure Crypto Act now awaits consideration in Congress as lawmakers continue to weigh broader measures to address fraud risks in the rapidly evolving digital asset market.
