EASA are trusting you not to lie in your log book, both pilots could log solo cross country time if they wanted, however if your hours got checked you could find yourself unstuck.
If your planning to fly simulated IFR, your safety pilot will need to have an FAA license to. If your both EASA pilots I would log flights according to EASA rules. You could make a remark saying it was simulated IFR time and log the time however it wouldnt be counted, so no real point unless your planning to fly with said FAA license.