US Lawmakers Propose Task Force to Combat Crypto Theft and Scams

US lawmakers have introduced legislation to create a Department of Justice-led task force to coordinate investigations into cryptocurrency theft, scams, and other digital asset-related crimes across federal, state, and local law enforcement agencies. Under the proposal, the Justice Department would serve as the primary federal coordinator for cryptocurrency theft investigations, bringing together agencies including the FBI, Homeland Security Investigations, and Treasury Department's Financial Crimes Enforcement Network. The bill, introduced by Republican Representative Lance Gooden and Democratic Representative Josh Gottheimer, directs the task force to develop best practices for evidence collection, blockchain forensics, asset tracing, and victim support. It would also provide training and technical assistance to state and local law enforcement agencies. According to the FBI's 2025 Internet Crime Report, Americans reported more than $11 billion in crypto-related losses last year. The task force would coordinate with international law enforcement agencies on cross-border investigations and submit annual reports to Congress on emerging threats, enforcement challenges, and potential policy recommendations. The bill specifies that it would not authorize new regulation of cryptocurrency markets, expand the authority of federal agencies, or create new criminal offenses, instead focusing on coordination among agencies already responsible for investigating financial crimes. Relatedly, blockchain intelligence firms like Chainalysis and TRM Labs are increasingly deploying AI-powered analytics to help investigators trace stolen funds, identify illicit activity, and analyze complex transaction flows. In March, TRM Labs launched Co-Case Agent, an AI investigative assistant for crypto crime and compliance teams, which can trace fund flows, audit blockchain transaction graphs, and suggest investigative steps from natural language prompts. Chainalysis announced similar blockchain intelligence agents later that month, designed to help users trace funds and gather intelligence as crypto criminals increasingly use AI to scale their operations. The growing focus on investigative tools comes as crypto-related exploits continue to generate significant losses, with hackers stealing roughly $630 million in April alone, marking the industry's largest monthly loss total since February 2025.