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$9.3B lost – Can SAFE Crypto Act ‘protect Americans against scams’?

A bipartisan U.S. Senate group introduced the SAFE Crypto Act to combat rising cryptocurrency fraud, which cost Americans $9.3 billion in losses last year. The bill establishes a federal task force combining Treasury, DOJ, Secret Service, and private crypto firms to improve enforcement, enhance public education, and coordinate internationally. It requires action within 180 days and aims to replace outdated laws with stronger measures against scams.

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