Cryptocurrency Fraud Hotspot: The US Introduces New Legislation to Address $9.9 Billion Loss Crisis

AirdropSweaterFan · 2026-01-12T11:06:10+00:00

The United States faces cryptocurrency fraud issues, with losses reaching $930 million in 2024, a 66% increase. To address this situation, senators have introduced the "Secure Crypto Enforcement Act" (SAFE Act), consolidating efforts to combat crypto fraud, enhance enforcement effectiveness, increase the risk of crime, and strengthen monitoring.

AirdropSweaterFan

2026-01-12 11:06:10

Abstract generation in progress

The cryptocurrency fraud problem faced by the U.S. Department of Justice has reached a remarkable scale. According to the latest statistics from the FBI, American citizens lost up to $930 million in 2024 due to crypto investment scams, a 66% increase compared to 2023, which is concerning.

To reverse this trend, U.S. Senators Elisha Slotkin and Jerry Moran officially introduced the “Secure Enforcement of Crypto Laws Act” (SAFE Act) this Monday. The legislative proposal aims to establish a comprehensive law enforcement coordination system that integrates the efforts of the U.S. Department of the Treasury, law enforcement agencies, regulatory bodies, and the private sector to form a unified front.

According to Gabriel Shapiro, Chief Legal Officer at Delphi Labs, if the bill is effectively implemented, it will have a significant deterrent effect on criminals engaged in crypto fraud. This is because the bill stipulates that the U.S. Attorney General, the Director of the Financial Crimes Enforcement Network (FinCEN), and the head of the U.S. Secret Service will jointly participate in the investigation and pursuit of such cases. This multi-agency law enforcement approach greatly increases the risk and difficulty for criminals to commit and escape.

Industry experts believe that the introduction of the SAFE Act not only systematically patches existing enforcement loopholes but also signifies an upgraded government resolve in addressing risks in the crypto space. Faced with an annual loss figure of $930 million, establishing a stronger regulatory and law enforcement framework has become an urgent task.

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.