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Analyze S5229 - SWIPES Act | DoTheySupportIt

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Analyze S5229 - SWIPES Act

S5229

SWIPES Act

The legislation updates federal fraud laws to explicitly protect digital assets and crypto credentials. By amending the definition of an "access device" under federal criminal law, the bill includes cryptographic keys, tokens, digital asset private keys, and recovery phrases. This change ensures that the theft or unauthorized use of these critical crypto security elements is prosecuted under federal fraud statutes, while also increasing criminal penalties for fraud targeting older Americans.

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