Bill · S. 3428· Senate(119-S-3428)
SAFE Crypto Act
- Introduced
- 12/10/2025
- Last activity
- 12/10/2025 — Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- Sponsored by
- Jerry Moran
- Cosponsors
- - 1 - 1
- Introduced
- In Committee
What this bill would do
This bill establishes the Task Force for Recognizing and Averting Cryptocurrency Scams. The Task Force is to be created by the Secretary of the Treasury within 180 days of the Act's enactment. It includes various members such as the Attorney General, law enforcement, and industry representatives. The group's purpose is to detect, prevent, and address scams involving digital assets and organized crime. Members will also work on asset recovery and education strategies. The Task Force must submit an initial report and annual updates to several congressional committees.
Yes· 3 of 10
Does this give people more protection from unfair business practices?+7
The bill creates a task force specifically designed to detect, prevent, and recover assets from cryptocurrency scams.
Does this make what the government does easier for the public to see?+4
The bill requires the task force to submit and make publicly available online annual reports on its findings and strategies.
Would households on low incomes be better off under this?+3
The bill includes education strategies to help consumers identify and avoid financial scams.
The opposite
Does this protect the right to fair treatment by the courts?-2
The bill allows for the freezing, seizing, burning, or reissuing of digital assets, which necessitates due process protections.
Who it would affect, and how
Potential Positive Impacts for People
-
Scam Detection and Prevention: The Task Force will examine trends in financial grooming scams and identify methods to prevent them, which could help protect individuals from losing money (Section 3(c)(1)).
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Enhanced Asset Recovery: The Task Force will work with stablecoin issuers to use technical capabilities to freeze, seize, burn, or reissue digital assets that are determined to be proceeds of scams or unlawful conduct (Section 3(c)(5)).
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Educational Programs: The Task Force is tasked with determining strategies for education programs intended to equip consumers to identify, avoid, and report digital asset scam attempts (Section 3(e)(5)).
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Information Sharing: The bill encourages the creation of real-time information sharing networks between digital asset service providers and issuers to detect and disrupt the movement of funds associated with fraud (Section 3(c)(4)).
Potential Negative Impacts for People
- Asset Seizure Risks: While intended to recover funds, the bill involves processes where digital assets can be frozen, seized, burned, or reissued, which must be handled consistent with due process (Section 3(c)(5)).
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Hover a score for the reason it gave.
- Demographic And Interest Groups
- Good For Low Income Households+3Good For Middle Class Households+3Good For High Income Households+2Good For Urban Residents+1
- Economy And Finance
- Improves Consumer Protection+7Improves Fiscal Responsibility+1
- National Security And Foreign Policy
- Improves International Alliances+3
- Governance And Ideology
- Improves Government Transparency+4Improves Due Process-2
- Social Issues And Justice
- Improves Policing Reform+2
- Education And Technology
- Improves Data Privacy+1
- 5/11/2026
- 1 Cosponsor added.
- 12/10/2025
- Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- 1 Cosponsor added.
- Introduced in Senate
Mike CrapoRepublican · Idaho
Elissa SlotkinDemocrat · Michigan