U.S. Senator Jerry Moran has introduced a new bill, S.3428, aimed at establishing a task force to tackle the growing issue of cryptocurrency scams. This legislative move comes in response to a significant increase in fraudulent activities, including investment and pig butchering schemes. In 2024, the FBI received over 47,000 complaints related to crypto scams, with reported losses amounting to $16.6 billion. The bill has been referred to the Senate Banking Committee and is similar to Senator Crapo's TRAPS Act (S.2019). Meanwhile, discussions on a broader Market Structure Bill continue, with Democrats advocating for changes in token classification and stablecoin yield regulations. The evolving regulatory landscape is prompting traders to closely monitor altcoins.