US senators introduce bill to strengthen crypto fraud crackdown

A bipartisan group of U.S. senators has introduced legislation to establish a task force aimed at combating cryptocurrency fraud and scams, Cointelegraph reports. The proposed bill, named the SAFE Act, was co-sponsored by Senators Elissa Slotkin (D) and Jerry Moran (R). The legislation would create a joint effort between the U.S. Department of the Treasury, the Financial Crimes Enforcement Network (FinCEN), other regulatory agencies, and private companies to track and disrupt illicit networks in real time.