• Cryptocurrency scams are a rapidly growing form of fraud, disproportionately affecting older Americans and rural families.
• Congress is considering the CLARITY Act to establish clear regulations for digital assets and combat fraud.
• The bill would define regulatory roles for the Commodity Futures Trading Commission and the Securities and Exchange Commission.
• It also aims to create a public-private task force to help law enforcement track and prosecute digital-asset crimes.

Cryptocurrency scams have become one of the fastest-growing forms of fraud in the country, and older Americans and rural families are among the hardest hit.

By one senator’s account, crypto-related scams made up roughly half of all cybercrime losses…