Montana Advances Digital Asset Regulation Amid Rising Crypto Fraud

According to Odaily, Montana is accelerating the development of a regulatory framework for digital assets in response to a surge in cryptocurrency fraud. State Securities and Insurance Commissioner James Brown cited data from the Federal Trade Commission, revealing that nationwide fraud losses reached $12.5 billion in 2024, marking a 25% increase from the previous year. The elderly population, which ranks sixth in the nation by proportion, has been identified as a primary target for these scams. Brown is advocating for the state legislature to review the proposed 'Digital Token Regulation Act.' This legislation would empower regulatory bodies to conduct entry reviews and ongoing supervision of blockchain transaction service providers. If enacted, Montana would become the first U.S. jurisdiction to systematically regulate on-chain transaction entities.