Reported by U.S. Congress

(Summary featured below. To read full bill, go to: https://gooden.house.gov/_cache/files/2/b/2b682cbb-8d23-427a-bd34-d1aec2ab0c57/F5F3870C88D46EB2734D18A3EFCF44470E4A0EE6CAD48405EEA4A7496517D4DD.crypto-task-force-bill-text.pdf)

A Republican congressman from Texas has introduced legislation to establish a dedicated federal body tasked with investigating and prosecuting cryptocurrency theft, as digital asset crimes continue to escalate in both scale and sophistication. The bill, introduced by Representative Gooden in the 119th Congress, would create the Federal Cryptocurrency Theft Task Force within the Department of Justice  and may be cited as the Federal Cryptocurrency Theft Enforcement and Coordination Act.

The legislation comes amid growing alarm over the vulnerability of crypto holders. Congress cited findings that cryptocurrency theft and related digital asset crimes have increased in frequency, scale, and sophistication, resulting in significant financial harm to individuals, businesses, and communities across the United States.  Lawmakers also noted that victims have often been left without meaningful recourse, pointing to a fragmented law enforcement landscape as a core problem.

The Task Force would be chaired by the Attorney General and would include senior representatives from the Department of Justice, the FBI, the Department of Homeland Security — including Homeland Security Investigations — and the Financial Crimes Enforcement Network within the Treasury Department.  The Attorney General would also have authority to bring in additional federal law enforcement agencies as deemed appropriate.

Under the bill, the Task Force would serve as the government’s primary coordinating body for crypto crime, with a mandate that extends beyond federal borders. Its duties would include developing best practices for evidence collection and asset tracing, providing training to state and local prosecutors, facilitating information sharing across federal, state, tribal, and territorial agencies, and coordinating with international law enforcement on cross-border investigations. 

The bill is narrowly scoped by design. A rule of construction explicitly states that nothing in the Act shall be construed to authorize the regulation of cryptocurrency or digital asset markets, expand or limit any federal agency’s regulatory authority, create new criminal offenses, or establish any private right of action. The Attorney General would be required to submit an annual report to Congress detailing the Task Force’s activities, emerging threats, and recommendations for further legislative action.