PANews reported on December 17 that U.S. Senators Elissa Slotkin and Jerry Moran jointly introduced a bipartisan bill called the "SAFE Crypto Act," which aims toPANews reported on December 17 that U.S. Senators Elissa Slotkin and Jerry Moran jointly introduced a bipartisan bill called the "SAFE Crypto Act," which aims to

US senators propose forming a federal task force to combat crypto fraud.

2025/12/17 15:59

PANews reported on December 17 that U.S. Senators Elissa Slotkin and Jerry Moran jointly introduced a bipartisan bill called the "SAFE Crypto Act," which aims to strengthen federal coordination in combating crypto-related fraud.

The bill proposes the establishment of a federal task force, uniting the Treasury Department, law enforcement agencies, financial regulators, and private sector experts to identify, track, and combat crypto scams. The task force will analyze scam trends, provide investigative tools, and raise public awareness of common crypto frauds. The task force must submit its first report to Congress within one year of its establishment and update it annually.

Senators stated that the bill will help protect the public from fraud threats as cryptocurrencies become more widespread. Industry insiders believe the legislation will help fill regulatory gaps, particularly regarding issues such as hacking, phishing scams, and small-scale Ponzi schemes. A Chainalysis report shows that illicit cryptocurrency transactions reached $51.3 billion in 2024, indicating the increasing diversification of related criminal activities.

Market Opportunity
Talus Logo
Talus Price(US)
$0.01292
$0.01292$0.01292
-0.30%
USD
Talus (US) Live Price Chart
Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact service@support.mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.

You May Also Like

Fed Decides On Interest Rates Today—Here’s What To Watch For

Fed Decides On Interest Rates Today—Here’s What To Watch For

The post Fed Decides On Interest Rates Today—Here’s What To Watch For appeared on BitcoinEthereumNews.com. Topline The Federal Reserve on Wednesday will conclude a two-day policymaking meeting and release a decision on whether to lower interest rates—following months of pressure and criticism from President Donald Trump—and potentially signal whether additional cuts are on the way. President Donald Trump has urged the central bank to “CUT INTEREST RATES, NOW, AND BIGGER” than they might plan to. Getty Images Key Facts The central bank is poised to cut interest rates by at least a quarter-point, down from the 4.25% to 4.5% range where they have been held since December to between 4% and 4.25%, as Wall Street has placed 100% odds of a rate cut, according to CME’s FedWatch, with higher odds (94%) on a quarter-point cut than a half-point (6%) reduction. Fed governors Christopher Waller and Michelle Bowman, both Trump appointees, voted in July for a quarter-point reduction to rates, and they may dissent again in favor of a large cut alongside Stephen Miran, Trump’s Council of Economic Advisers’ chair, who was sworn in at the meeting’s start on Tuesday. It’s unclear whether other policymakers, including Kansas City Fed President Jeffrey Schmid and St. Louis Fed President Alberto Musalem, will favor larger cuts or opt for no reduction. Fed Chair Jerome Powell said in his Jackson Hole, Wyoming, address last month the central bank would likely consider a looser monetary policy, noting the “shifting balance of risks” on the U.S. economy “may warrant adjusting our policy stance.” David Mericle, an economist for Goldman Sachs, wrote in a note the “key question” for the Fed’s meeting is whether policymakers signal “this is likely the first in a series of consecutive cuts” as the central bank is anticipated to “acknowledge the softening in the labor market,” though they may not “nod to an October cut.” Mericle said he…
Share
BitcoinEthereumNews2025/09/18 00:23
CryptoMiningFirm turns phones, computers into passive crypto income tools

CryptoMiningFirm turns phones, computers into passive crypto income tools

CryptoMiningFirm offers simple, secure cloud mining with massive earnings potential, no hardware or technical setup required. A few months ago, a crypto investor testified that he was  overwhelmed by financial pressures. Traditional jobs demanded his time but barely covered expenses.…
Share
Crypto.news2025/09/20 01:06
Tether Launches PearPass, a Peer-to-Peer Password Manager Without Cloud Storage

Tether Launches PearPass, a Peer-to-Peer Password Manager Without Cloud Storage

Tether unveiled PearPass, a peer-to-peer password manager that eliminates the need for cloud storage and centralized servers, amid major breaches that have exposed
Share
CryptoNews2025/12/18 01:19