Bill > S3428

This bill, titled the "Strengthening Agency Frameworks for Enforcement of Cryptocurrency Act" or "SAFE Crypto Act," establishes a Task Force for Recognizing and Averting Cryptocurrency Scams. This Task Force, to be created by the Secretary of the Treasury within 180 days of the bill's enactment, will be composed of various government officials, including representatives from the Attorney General's office and the Financial Crimes Enforcement Network (FinCEN), as well as private sector participants like digital asset service providers, stablecoin issuers, and consumer protection advocates. The Task Force's primary goals are to identify and prevent scams involving digital assets, which are defined similarly to terms in the GENIUS Act, by examining current trends, developing prevention methods, and recommending ways to improve detection and interdiction efforts. It will also focus on sharing information, enhancing asset recovery mechanisms, and educating the public about crypto scams, with a mandate to report its findings and recommendations to Congress annually for three years after its initial report.

Housing and Urban Affairs

https://www.congress.gov/bill/119th-congress/senate-bill/3428/all-info