Sponsors (3)
The bill centralizes and clarifies federal anti‑crypto‑scam efforts—creating a Treasury‑led Task Force, reporting, and technical forums that improve detection, enforcement, and recovery—but it concentrates authority and grants powers and information‑sharing practices that raise due‑process, privacy, and capture risks for users and smaller firms.
Consumers and victims of crypto scams gain stronger detection, reporting, and recovery mechanisms through a coordinated federal Task Force, improving chances to stop scams and recover losses.
Law enforcement receives cross‑sector intelligence sharing and international coordination to better identify, track, and prosecute scammers, enhancing public safety and deterrence.
The bill clarifies governance by naming the Treasury Secretary as the responsible official and identifying the coordinating Task Force, reducing ambiguity about who implements anti‑scam measures.
Coordinated technical powers to freeze, seize, burn, or reissue assets risk due‑process and property‑rights harms for digital asset holders unless tightly constrained.
Centralizing authority at Treasury and exempting the Task Force from normal federal advisory committee rules concentrates rulemaking/enforcement power and reduces standard transparency and oversight protections, raising accountability concerns.
Mandating real‑time information sharing with industry could increase privacy and data‑security risks for users and businesses if protections and safeguards are insufficient.
Based on analysis of 3 sections of legislative text.
Establishes a Treasury-led Task Force to detect, prevent, and coordinate responses to cryptocurrency scams and issue public reports and recommendations.
Creates a Treasury-led Task Force on Recognizing and Averting Cryptocurrency Scams that must be established within 180 days to coordinate scam detection, prevention, victim recovery, and information sharing among federal agencies, industry participants, law enforcement, victim advocates, and state regulators. The Task Force must meet multiple times, deliver a public initial report within one year and annual updates, and will terminate three years after that initial report; members serve without additional pay and the group is exempt from certain federal advisory rules.
Introduced December 10, 2025 by Jerry Moran · Last progress December 10, 2025