US lawmakers propose new federal crypto crime task force

US lawmakers have introduced legislation to create a federal task force focused on cryptocurrency theft, fraud, and hacking investigations.

The proposal follows a year in which Americans reported more than $11 billion in crypto-related losses. If approved, the measure would establish a coordinated reporting and enforcement framework across multiple federal agencies.

Crypto fraud losses drive call for coordinated enforcement

Bipartisan lawmakers introduced the Federal Cryptocurrency Theft Enforcement and Coordination Act in Congress. The proposal would create a task force led by the attorney general. Officials from the Department of Justice, FBI, Department of Homeland Security, and Treasury would participate.

The bill arrives after a sharp rise in crypto-related complaints across the United States. According to the FBI’s 2025 Internet Crime Report, Americans filed 181,565 cryptocurrency complaints. Those reports resulted in more than $11.3 billion in recorded losses. Investment fraud generated the largest share of those losses. FBI data showed investment scams accounted for approximately $7.2 billion. Complaint volume also increased 21% compared with the previous year.

Older Americans reported the highest losses among all age groups. People over 60 filed 44,555 complaints during 2025. The FBI said those victims lost roughly $4.43 billion through crypto-related schemes. Meanwhile, blockchain analytics firm TRM Labs reported rising criminal activity involving digital assets. According to the firm, wallets linked to illicit activity received $158 billion in cryptocurrency during 2025. The figure stood at $64.5 billion in 2024.

Bill seeks single reporting channel for victims

Representative Lance Gooden and Representative Josh Gottheimer introduced the legislation. The lawmakers said victims currently lack a central place to report crypto-related crimes. The proposal aims to establish a more coordinated response structure. 

Gooden said Americans need a unified strategy against cryptocurrency criminals. He argued that fragmented enforcement leaves victims without clear support options.  The bill seeks to improve communication between agencies handling crypto investigations.

Under the proposal, the task force would coordinate investigations across participating agencies. It would also develop standardized guidance for local law enforcement departments. Officials would create procedures for handling cryptocurrency theft and fraud cases. The legislation also focuses on victim assistance. Lawmakers said the framework would provide a clearer reporting process. Support services would operate through a centralized federal structure.

Proposal follows changes in federal crypto enforcement

The bill arrives after the Department of Justice disbanded the National Cryptocurrency Enforcement Team in 2025. Officials said the previous unit relied heavily on enforcement actions against industry participants. The current proposal instead focuses on criminal investigations and victim support. Federal agencies already operate several programs targeting digital asset crime. 

The FBI’s Operation Level Up identifies scam victims before losses escalate. According to the bureau, the initiative saved more than $225.8 million during 2025. Other agencies also continue crypto enforcement efforts. The Treasury Department’s Scam Center Strike Force has targeted overseas fraud networks. Authorities said the program seized more than $700 million linked to scam operations.

Industry groups have expressed support for the proposal. The Digital Chamber said law enforcement agencies need stronger tools and training. Satoshi Action Fund CEO Dennis Porter said the legislation would provide a coordinated federal response for victims and investigators. The measure must still advance through congressional committees before becoming law. Lawmakers could also attach the proposal to a broader legislative package during the current session.