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It's not yet clear whether the new task force legislation will find an avenue for passage in the busy congressional
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The Digital Chamber, a Washington group supporting crypto policy, said about this legislative effort that it's "critical that law enforcement agencies have the tools, training and coordination necessary to investigate theft, trace illicit activity, support victims and pursue bad actors.
Key facts
- Despite $11 billion in thefts and scams last year, "victims have nowhere to turn," Gottheimer, a New Jersey Democrat, argued
- Tokenized assets hit a record $28.9B in May; their tenth consecutive monthly all-time high
- In 2021, during the administration of President Joe Biden, the Joint Ransomware Task Force was established to coordinate across federal agencies in a similar fashion and in a related vein
- The Federal Cryptocurrency Theft Task Force would be led by the U.S. attorney general, according to bill text reviewed by CoinDesk, and it would involve the Department of Justice, Federal Bureau
Summary
A new bill in the U.S. House of Representatives would stand up a federal task force that would be ready to coordinate and lead crypto theft investigations. The legislation, enlisting the involvement of several relevant federal agencies, including the FBI, DOJ, Treasury and Homeland Security, was introduced with bipartisan sponsorship, though it's potential path as a viable effort isn't yet clear. Crypto theft from criminal fraud and hacking would be the jurisdiction of a new U.S. cross-agency task force contemplated in a bipartisan bill introduced on Thursday, backed by well-placed lawmakers in the U.S. House of Representatives. The Federal Cryptocurrency Theft Task Force would be led by the U.S. attorney general, according to bill text reviewed by CoinDesk, and it would involve the Department of Justice, Federal Bureau of Investigation, Department of Homeland Security and the Treasury Department, among others.