US House Lawmakers Move to Create Federal Task Force on Crypto Theft

A bill to create a federal task force dedicated to cryptocurrency theft has been introduced in the US House of Representatives.

CoinDesk reported on June 11 that Republican Representative Lance Gooden and Democratic Representative Josh Gottheimer jointly introduced legislation to establish a Federal Cryptocurrency Theft Task Force.

Under the bill, the attorney general would oversee the task force, with participation from major federal agencies including the Department of Justice, the Federal Bureau of Investigation, the Department of Homeland Security and the Treasury Department. The body would coordinate government-wide efforts to prevent and investigate cryptocurrency theft and support victims.

Crypto criminals are stealing billions of dollars from Americans, but the US lacks a unified strategy to stop them, Gooden said. He added that the bill would protect consumers and strengthen trust in the crypto ecosystem.

Gottheimer said crypto-related theft and fraud caused $11 billion in losses last year. Victims need a single federal point of contact for help, he said.

The bill was introduced amid criticism that response systems are inconsistent across federal agencies and state and local law enforcement authorities. It remains unclear whether the measure will pass during the current congressional session.