CoinDesk
A bipartisan pair of U.S. House lawmakers introduced legislation Thursday to create a Federal Cryptocurrency Theft Task Force, a multi-agency body housed at the Department of Justice and led by the U.S. attorney general. The bill, sponsored by Rep. Lance Gooden (R-Texas), a member of the House Judiciary Committee, and Rep. Josh Gottheimer (D-N.J.), of the House Financial Services Committee, would pull in the FBI, the Department of Homeland Security and the Treasury Department alongside the DOJ. The task force is designed to become the single federal point of contact for preventing and investigating crypto theft, including fraud, pig-butchering operations and state-backed hacking.
The bill lands against a backdrop of $11 billion in crypto thefts and scams last year, a figure Gottheimer cited in arguing that "victims have nowhere to turn." The legislative effort also arrives in a regulatory landscape that has shifted sharply: earlier this year the DOJ disbanded its own National Cryptocurrency Enforcement Team, with new leadership arguing the unit had been regulating the industry through enforcement rather than pursuing criminal cases. Gooden framed the new task force as filling that coordination gap, saying it would "protect consumers, crack down on thieves and strengthen trust in the crypto ecosystem."
Why it matters
The proposal is the most concrete congressional answer yet to a complaint that has dogged the sector for years: that crypto-theft cases fall through the cracks between federal agencies, state and local police, and private-sector investigators. Industry groups including the Digital Chamber have pressed for exactly this kind of unified federal response, and the Satoshi Action Fund's CEO Denniss Porter said housing the task force at the Justice Department "gives victims, investigators and local law enforcement the unified federal response they have been missing." Cross-agency coordination is not unprecedented — the 2021 Joint Ransomware Task Force and last year's Treasury-led Scam Center Strike Force, which has seized more than $700 million in crypto, both operate on similar logic.
Market impact
For the industry, the bill cuts both ways.
Frequently asked questions
-
What would the Federal Cryptocurrency Theft Task Force actually do?
Per the bill text, the task force would coordinate and lead federal investigations of crypto theft — from fraud and pig-butchering scams to state-backed hacks — and serve as a single point of contact for victims, investigators and local law enforcement.
-
Which agencies would be involved in the new task force?
The task force would be housed at the Department of Justice and led by the U.S. attorney general, with participation from the FBI, the Department of Homeland Security, the Treasury Department, and other federal agencies.
-
Who introduced the bill and is it bipartisan?
The legislation was introduced by Rep. Lance Gooden, a Republican on the House Judiciary Committee, and Rep. Josh Gottheimer, a Democrat on the House Financial Services Committee — a cross-committee, bipartisan pairing.
-
Why is this bill being introduced now?
Lawmakers cited $11 billion in crypto thefts and scams last year, and pointed to the recent DOJ disbanding of its National Cryptocurrency Enforcement Team as evidence that federal coordination on stolen-crypto cases has broken down.
-
What are the odds the bill becomes law?
Standalone legislation in a busy congressional session rarely clears on its own. The task force proposal is more likely to advance if attached to a broader must-move legislative package — its standalone path is uncertain.
CoinTelegraph
CryptoSlate
Altcoin Daily
Crypto News
TheBlock