Sponsors (2)
The bill strengthens coordination, information sharing, and technical tools to detect and recover crypto scam proceeds—benefiting victims and law enforcement—but does so by centralizing authority, reducing procedural safeguards, and imposing new technical and compliance costs on issuers and firms.
Consumers and victims of crypto scams will get coordinated recommendations, annual reporting to Congress, and focused recovery/detection efforts, improving chances of stopping scams and reclaiming funds.
Permitted payment stablecoin issuers are required to maintain technical capabilities (freeze/seize/burn/reissue), enabling faster recovery of scam proceeds and reducing victim losses.
Encourages real-time public–private information sharing between digital asset firms and authorities, which can speed interdiction of scams and reduce aggregate losses.
Exempting the Task Force from the Administrative Procedure Act removes procedural safeguards and public input, reducing transparency and accountability over its actions and recommendations.
Technical requirements for stablecoin issuers (freeze/burn/seize/reissue) will impose operational costs and burdens on issuers and may trigger due‑process and legal disputes that complicate implementation.
Adopting statutory definitions from the GENIUS Act could lock in regulatory definitions that some businesses disagree with, raising compliance costs and regulatory mismatch for certain crypto firms.
Based on analysis of 3 sections of legislative text.
Creates a Treasury-led task force with federal, industry, victim, and state regulator members to prevent, investigate, and recover assets from cryptocurrency scams, with reporting and a limited sunset.
Creates a Treasury-led Task Force to prevent, detect, investigate, and help recover assets from cryptocurrency scams. The Task Force must be formed within 180 days, include federal officials, industry representatives, victims, law enforcement, and state regulators, meet regularly, and deliver an initial public report within one year and annual updates thereafter. The law imports certain definitions for digital assets and service providers from an existing statute, exempts the Task Force from Title 5 rulemaking/adjudication requirements, requires members to serve without extra pay, and sunsets the Task Force three years after its initial report.
Introduced December 10, 2025 by Jerry Moran · Last progress December 10, 2025