U.S. lawmakers have proposed a new Crypto Fraud Task Force to combat rising cryptocurrency scams after Americans lost over $11 billion to crypto fraud in 2025. Here’s what the bill means for investors.
The United States is taking a significant step toward strengthening cryptocurrency security as bipartisan lawmakers introduce a new bill aimed at fighting digital asset fraud. The proposed Crypto Fraud Task Force would bring together multiple federal agencies to investigate cryptocurrency theft, scams, and hacking incidents that continue to cost Americans billions of dollars every year.
U.S. Lawmakers Push for Stronger Crypto Protection
Republican Representative Lance Gooden and Democratic Representative Josh Gottheimer have jointly introduced the Federal Cryptocurrency Theft Enforcement and Coordination Act. The legislation seeks to establish a specialized federal task force dedicated to tackling cryptocurrency-related crimes across the country.
The proposed task force would operate under the Department of Justice (DOJ) and include representatives from the FBI, Department of Homeland Security (DHS), and the U.S. Treasury Department. Its primary goal would be to improve coordination between agencies and create a clear reporting system for victims of crypto fraud.
Americans Lost More Than $11 Billion to Crypto Scams
The urgency behind the bill comes from alarming figures released by federal authorities. According to government data, Americans lost over $11.3 billion to cryptocurrency-related fraud in 2025.
The FBI recorded more than 181,000 cryptocurrency-related complaints, marking a substantial increase compared to previous years. Investment scams accounted for the largest share of losses, responsible for approximately $7.2 billion in stolen funds.
Older Americans were among the most affected victims. Individuals aged 60 and above reportedly lost more than $4.4 billion, highlighting the growing threat posed by sophisticated online fraud schemes.
What Would the Crypto Fraud Task Force Do?
If approved, the Crypto Fraud Task Force would focus on several key responsibilities:
- Coordinating investigations across federal agencies.
- Creating standard guidelines for local law enforcement.
- Improving support and recovery efforts for scam victims.
- Streamlining the reporting process for cryptocurrency crimes.
- Enhancing training and resources for investigators handling blockchain-related cases.
Supporters believe the initiative could significantly improve the government’s ability to track and prosecute crypto criminals while providing better assistance to affected investors.
Filling the Gap Left by Previous Enforcement Units
The proposal comes after the shutdown of the DOJ’s National Cryptocurrency Enforcement Team (NCET) in 2025. Critics argued that the previous unit focused too heavily on regulatory enforcement rather than criminal investigations.
Lawmakers backing the new bill say the proposed task force would prioritize fraud prevention, theft investigations, and victim protection instead of regulating the broader cryptocurrency industry.
Industry Groups Support the Proposal
Several cryptocurrency policy organizations and advocacy groups have welcomed the legislation. Industry representatives argue that law enforcement agencies need better coordination, modern investigative tools, and additional training to keep pace with increasingly sophisticated crypto criminals.
Supporters also believe that a centralized response could help recover stolen funds more efficiently and reduce future fraud incidents.
What Happens Next?
The bill must still pass through congressional committees before becoming law. It could also be attached to a broader legislative package dealing with financial crimes or digital asset regulation.
While its future remains uncertain, the proposal highlights the growing concern among policymakers about cryptocurrency fraud and the need for stronger enforcement mechanisms.
