Sponsors (3)
The bill strengthens federal coordination, law enforcement cooperation, and consumer protections against crypto scams by centralizing oversight and fostering industry technical solutions, but it concentrates power at Treasury and raises due‑process, privacy, and capture risks that could broaden regulatory reach and disadvantage users and smaller firms.
Consumers and victims will have improved detection, reporting, and recovery mechanisms for cryptocurrency scams through a coordinated federal task force.
Law enforcement agencies will receive cross‑sector intelligence and international coordination to better identify and prosecute crypto scammers.
Financial institutions, crypto firms, and regulators gain clearer roles and a consistent statutory definition of covered digital‑asset entities, reducing legal uncertainty about who must comply and who implements the law.
Digital asset holders and permitted payment stablecoin issuers face serious due‑process and property‑rights risks if coordinated freeze/seize/burn powers are exercised without tight legal constraints.
Financial institutions, tech workers, the public, and Congress face concentrated rulemaking and reduced oversight because authority is centralized at Treasury and the Task Force is exempted from standard federal advisory‑committee rules.
Users and digital asset service providers may incur heightened privacy and data‑security risks from mandated real‑time industry information sharing.
Based on analysis of 3 sections of legislative text.
Requires the Treasury Secretary to create a multi-stakeholder Task Force to detect, prevent, coordinate, and report on cryptocurrency scams and asset-recovery efforts, with public reports and a multi-year sunset.
Official title: Establish a Task Force for Recognizing and Averting Cryptocurrency Scams, and for other purposes.
Introduced December 10, 2025 by Jerry Moran · Last progress December 10, 2025
Creates a Treasury-led Task Force on Recognizing and Averting Cryptocurrency Scams (the "Task Force") to improve federal detection, prevention, coordination, and recovery efforts related to crypto scams. The Task Force must be set up within 180 days, include federal officials, industry representatives, victims’ advocates, law enforcement, and state regulators, meet regularly, produce a public initial report within one year and annual updates, and terminate three years after the initial report is submitted.