US Senators Advance SAFE Crypto Act to Bolster Fraud Protections
Senators unveiled and advanced the bipartisan SAFE Crypto Act, a bill designed to combat rising cryptocurrency fraud by establishing a dedicated federal task force. The measure seeks to improve interagency coordination, centralize investigative resources, and set clearer enforcement priorities for cases involving scams, thefts, and illicit token offerings.
If enacted, the SAFE Crypto Act could strengthen consumer protections and give prosecutors and regulators a more consistent framework for pursuing bad actors across exchanges, custodians, and decentralized platforms. Supporters say the task force would speed investigations and bring greater accountability, while industry participants should expect increased compliance scrutiny. The proposal now moves through the Senate process, where it will face committee consideration and potential amendment before any final vote.