U.S. Senators Propose SAFE Crypto Act to Tackle Cryptocurrency Fraud

U.S. Senators Jerry Moran and Elissa Slotkin have introduced the SAFE Crypto Act to form a federal task force focusing on cryptocurrency fraud in collaboration with government and private-sector experts.

This initiative reflects the escalating importance of combating digital asset fraud, with potential impacts on enforcement practices and public awareness, as cryptocurrency gains popularity as a financial tool.

Potential Impacts on Regulation and Market Confidence

U.S. Senators introduced the SAFE Crypto Act, intending to form a federal task force to identify and combat cryptocurrency fraud. This bipartisan initiative, led by Senators Moran and Slotkin, aims to consolidate efforts across government agencies and the private sector.

The working group will study cryptocurrency fraud trends and develop robust methods to prevent such crimes. The group will also provide local law enforcement with enhanced investigative tools and raise public awareness about common scams.

Market Data and Insights

Did you know? The SAFE Crypto Act mirrors past cross-stakeholder groups aimed at tackling crypto crime, echoing initiatives like the SEC’s Crypto Task Force, although with a fraud-specific focus.

As of December 17, 2025, Bitcoin (BTC) is trading at $86,858.28, with a market cap of $1.73 trillion and a dominant market share of 58.68%, according to CoinMarketCap. Despite a 0.79% 24-hour increase, BTC has decreased by 6.32% in the past week.

Experts and industry leaders have emphasized the potential of blockchain technology in tracking fraudulent activities. As Ari Redbord, Vice President, Global Head of Policy at TRM Labs, stated: