U.S. senator introduces bill to establish task force to prevent virtual asset fraud

JH Kim

Summary

U.S. Senator Jerry Moran reportedly introduced a bill to establish an official task force to prevent virtual asset fraud.
The bill aims to address the recent increase in virtual asset-related scams and phishing and highlighted investment scams targeting the elderly and social media-based scams as major issues.
The U.S. officially pursuing a federal-level dedicated body to respond to virtual asset fraud is viewed as a significant policy turning point amid the growth of the virtual asset market.

A U.S. senator is pushing to establish an official task force (TF) to address virtual asset (cryptocurrency) fraud.

On the 11th (local time), Eleanor Terrett, host of Crypto in America, reported on X(formerly Twitter) that Senator Jerry Moran introduced a bill to form a TF to identify and prevent virtual asset fraud.

The bill aims to systematically investigate and prevent the rapidly increasing virtual asset-related scams, phishing, and illegal fundraising. In particular, as recent cases such as investment scams targeting the elderly, social media-based scams, and fake customer service impersonation have risen, the need for a response within the U.S. Congress is growing.

Senator Moran has consistently pursued legislation to prevent financial fraud and protect consumers in the past, and some analysts say this bill could also gain bipartisan support.

With the virtual asset market rapidly expanding, the U.S. officially pushing for a federal-level dedicated agency to combat fraud is seen as an important policy turning point.