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Bipartisan SAFE Crypto Act Proposes Federal Taskforce to Combat Cryptocurrency Fraud

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The SAFE Crypto Act, backed by Senators Slotkin and Moran, aims to establish a federal taskforce to tackle crypto fraud. The group, to be formed within 180 days, will unite Treasury, law enforcement, exchanges, and blockchain firms. With over $53 billion in global crypto theft since 2023, the taskforce will focus on recovery and prevention. It will meet three times a year and report on strategies within one year. The move could impact liquidity and crypto markets by improving trust. Safe-haven assets may also benefit from stronger regulatory clarity.
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