What does Preamble of SAFE Crypto Act do?

This bill establishes a Task Force for Recognizing and Averting Cryptocurrency Scams. The bill is introduced by Mr. Moran and Ms. Slotkin. The bill was referred to the Committee on Banking, Housing, and Urban Affairs.

What does SHORT TITLE. of SAFE Crypto Act do?

This bill is formally titled the Strengthening Agency Frameworks for Enforcement of Cryptocurrency Act.

What does DEFINITIONS. of SAFE Crypto Act do?

This section defines terms used within the Act. The terms 'digital asset,' 'digital asset service provider,' and 'permitted payment stablecoin issuer' are defined according to section 2 of the GENIUS Act (12 U.S.C. 5901). The term 'Secretary' refers to the Secretary of the Treasury. The term 'Task Force' refers to the Task Force on Cryptocurrency Scams established under section 3(a).

What does TASK FORCE ON CRYPTOCURRENCY SCAMS. of SAFE Crypto Act do?

This section establishes the Task Force for Recognizing and Averting Cryptocurrency Scams, to be led by the Secretary or a designee. The Task Force's membership includes representatives from various federal agencies, payment stablecoin issuers, digital asset service providers, law enforcement, and victim support networks. The Task Force's purposes include examining trends in financial grooming scams involving digital assets, adopting a cross-sector approach, and promoting information sharing. The Task Force is encouraged to utilize data from the Internet Crime Complaint Center and the Federal Trade Commission's fraud reporting database. The Task Force is tasked with developing strategies for education programs to help individuals identify and avoid digital asset scams. The Task Force must submit a report detailing its findings and recommendations to specified congressional committees within one year of its establishment, with annual updates thereafter. The Task Force will terminate three years after submitting its initial report.

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SAFE Crypto Act

Last updated: 12/10/2025 · Introduced: 12/10/2025

Author: Jerry Moran (R-KS)

TL;DR (AI)

This bill establishes a Task Force for Recognizing and Averting Cryptocurrency Scams, composed of representatives from federal agencies, industry, and victim support networks.
The Task Force will analyze cryptocurrency scam trends, develop educational programs to prevent fraud, and share information across sectors.
The Task Force must submit a report with findings and recommendations to Congress within one year of establishment, followed by annual updates.

119th Congressin committeeOfficial page

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Other Sections

Includes provisions on preamble, short title., and 2 more.

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