Two US Senators introduced the SAFE Crypto Act to tighten coordination against crypto scams and crypto fraud. The proposal would link the US Treasury, FinCEN, the US Secret Service, and other law enforcement agencies to improve how the government detects and investigates digital asset fraud.

The bill is called the Strengthening Agency Frameworks for Enforcement of Cryptocurrency (SAFE) Act. Elissa Slotkin, a Democrat, and Jerry Moran, a Republican, introduced the legislation on Monday.

Supporters said the SAFE Crypto Act focuses on enforcement coordination. It targets scams and fraud tied to cryptocurrency and other digital assets, while also involving private sector participants.

SAFE Crypto Act Links FinCEN, US Treasury, and US Secret Service

The SAFE Crypto Act would set up a law enforcement task force focused on crypto scams and crypto fraud. The framework would coordinate action between the US Treasury, FinCEN, law enforcement, regulators, and private sector players.

Slotkin described the task force as a way to combine resources across agencies. “This task force, established by the SAFE Cryptocurrency Act, will allow us to draw upon every resource we have to combat fraud in digital assets,” Slotkin said.

Moran tied the bill to wider crypto use and public protection. “As cryptocurrency becomes more widely used, this legislation would help counter threats and make certain all Americans are better protected from crypto scams,” Moran said.

FBI Reports $9.3 Billion in Crypto Investment Scam Losses in 2024

The FBI reported Americans lost $9.3 billion to crypto related investment scams in 2024. The figure marked a 66% increase from 2023, according to the report cited in the coverage.

The FBI data showed older victims faced the biggest losses. Individuals over 60 accounted for $2.84 billion in losses tied to FBI crypto investment scams.

The reporting also noted how the FBI count works. The figure can include any investment scam that mentions crypto as part of the pitch, even when it does not use blockchain transactions.

Delphi Labs and TRM Labs Point to Enforcement Structure and Industry Support

Gabriel Shapiro, general counsel at Delphi Labs, said enforcement coordination could pressure scammers. In a Tuesday post on X, he wrote: “Scammers will probably end up shitting themselves if this goes hard.”

Shapiro also pointed to senior officials who could take part under the SAFE Crypto Act structure. He referenced the attorney general, the director of FinCEN, and the director of the United States Secret Service as key leaders in pursuing crypto criminals.

Blockchain forensic firm TRM Labs also signaled interest in supporting the effort. Ari Redbord, TRM Labs vice president and global head of policy, said collaboration can help track and disrupt illicit networks faster.

“By bringing industry and law enforcement together, we can meaningfully reduce criminals’ ability to exploit transformative technologies for harm,”

Redbord said.

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Tatevik Avetisyan
Editor at Kriptoworld
LinkedIn | X (Twitter)

Tatevik Avetisyan is an editor at Kriptoworld who covers emerging crypto trends, blockchain innovation, and altcoin developments. She is passionate about breaking down complex stories for a global audience and making digital finance more accessible.

📅 Published: December 17, 2025 • 🕓 Last updated: December 17, 2025