As crypto prices surge, scams and fraud become more prevalent, with the FBI reporting $5.6 billion in losses from crypto scams in 2023. A significant portion, $3.9 billion, resulted from investment scams. The rise of Bitcoin ATM scams highlights the urgent need for better regulatory frameworks. The U.K. has adapted its policies to combat crypto crime through effective law enforcement measures and asset seizures. The U.S. must follow suit by clarifying regulatory responsibilities and investing in enforcement capabilities to protect consumers and encourage innovation in the crypto space. The incoming Trump administration has the opportunity to strengthen compliance through public-private partnerships and enhance law enforcement resources. Improved tracking and investigation of illegal activities will not only safeguard consumers but also bolster the reputation of the U.S. digital asset market. As the crypto landscape evolves, collaboration between industry and regulators will be crucial for future growth and protection.

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