The post Bipartisan SAFE Crypto Act Proposes Federal Taskforce to Tackle Cryptocurrency Fraud appeared on BitcoinEthereumNews.com.

The SAFE Crypto Act, introduced by Senators Elissa Slotkin and Jerry Moran, establishes a federal taskforce to combat cryptocurrency scams by coordinating government, law enforcement, and industry efforts. This bipartisan bill requires the taskforce to form within 180 days, focus on scam detection, prevention, and asset recovery, and issue a strategy report within one year. Key Bipartisan Initiative: Senators Slotkin (D-MI) and Moran (R-KS) aim to protect consumers from rising crypto fraud through unified federal action. Taskforce Composition: Includes Treasury officials, law enforcement, crypto exchanges, and blockchain intelligence firms for comprehensive collaboration. Proven Impact: Addresses over $53 billion in global crypto theft since 2023, with 2025 losses already exceeding $1.7 billion by April per ImmuneFi data. Discover the SAFE Crypto Act: A vital step against cryptocurrency scams. Learn how this federal taskforce will shield investors and foster secure digital assets—explore bipartisan strategies now. What is the SAFE Crypto Act? The SAFE Crypto Act is a bipartisan legislative proposal introduced by U.S. Senators Elissa Slotkin (D-Michigan) and Jerry Moran (R-Kansas) to create a dedicated federal taskforce focused on combating cryptocurrency scams. The bill mandates the Secretary of the Treasury to establish this taskforce within 180 days of enactment, drawing together representatives from government agencies, local law enforcement, crypto exchanges, and blockchain intelligence providers. This initiative addresses the escalating threats in the digital asset space by promoting coordinated strategies for fraud prevention and investor protection. How Does the Taskforce Under the SAFE Crypto Act Operate? The taskforce outlined in the SAFE Crypto Act will engage in five core activities: scam detection and prevention, developing a cross-sector fraud prevention framework, gathering insights from diverse stakeholders, facilitating information sharing among participants, and pursuing asset recovery and seizure. It must convene at least three times annually to identify evolving scam tactics, create public education strategies,…

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Filed under: News - @ December 18, 2025 1:25 am