- U.S. senators have proposed a joint task force to disrupt cryptocurrency fraud nationwide.
- The proposal aims to strengthen coordination across agencies, law enforcement, and industry.
- The bill targets the rising tide of scams enabled by better tools, increased data sharing, and improved reporting.
A new bipartisan effort in the U.S. Senate seeks to confront an escalating wave of cryptocurrency fraud by tightening federal coordination and sharpening law enforcement tools.
As digital assets gain broader adoption, lawmakers say gaps in oversight have left consumers exposed to increasingly sophisticated scams.
Coordinated response to an evolving threat
Senators Elissa Slotkin (Michigan) and Jerry Moran (Kansas) introduced the Safe Crypto Enforcement Framework Act to bolster the federal response to crypto-related fraud.
This proposal is designed to bring order and urgency to federal efforts against crypto scams, which have surged alongside mainstream adoption of digital assets.
At the heart of the bill is the establishment of a federal task force that would unite the Treasury Department, law enforcement agencies, financial regulators, and private-sector experts.
Supporters say this structure reflects the reality of modern crypto crime, which often crosses jurisdictions and moves faster than traditional enforcement mechanisms.
Senator Slotkin has framed the legislation as consumer protection rooted in practical needs.
She argues that cryptocurrency scams deserve focused attention because of their complexity and speed, noting that local law enforcement often lacks the tools or expertise to investigate these crimes effectively.
By combining federal resources and industry knowledge, the task force aims to close those gaps.
Inside the SAFE Crypto Act
The SAFE Crypto Act directs the task force to study emerging trends in digital asset fraud and identify methods that have proven effective at stopping them.
That includes tracking patterns in phishing schemes, hacks, and smaller-scale Ponzi operations that may fall outside the primary focus of existing regulators.
A key element of the bill is its emphasis on supporting state and local authorities.
The task force would help equip local investigators with investigative tools and technical guidance, acknowledging that many victims first turn to local agencies for assistance.
Lawmakers say this support could significantly improve response times and case outcomes.
Public education is another core component. The task force would work to raise awareness about common crypto scams so consumers can better protect their funds.
As scam tactics evolve, the bill’s sponsors argue that prevention through education is as important as enforcement after losses occur.
The legislation also includes accountability measures. The task force would be required to submit an initial report to congressional committees within one year of its creation, followed by annual updates.
These reports would outline emerging threats, enforcement progress, and areas where further action may be needed.
The proposal has drawn attention within the crypto and legal communities, where concerns about fragmented enforcement have grown.
A January report from Chainalysis estimated that illicit cryptocurrency volume reached $51.3 billion in 2024, underscoring the scale and variety of on-chain criminal activity.
Crypto attorney Gabriel Shapiro described the bill as a potential way to fill enforcement gaps, noting that agencies like the SEC and CFTC are not always focused on crimes such as hacks or phishing operations.
U.S. Senator Moran proposes the SAFE Crypto Act establishing a task force for dealing with crypto scams!!!
would have AG, Director FinCEN, Director Secret Service, other agency heads, scam victims, representatives of stablecoin issuers, custodians, etc.
devoted to detecting… pic.twitter.com/i94tn2sHdm
— _gabrielShapir0 (@lex_node) December 16, 2025
If enacted, the SAFE Crypto Act would mark a significant step toward a more organized and proactive U.S. strategy to combat cryptocurrency fraud.