Republican U.S. Rep. Lance Gooden and Democratic U.S. Rep. Josh Gottheimer jointly introduced the “Federal Cryptocurrency Theft Enforcement and Coordination Act” on June 11. The bill would establish a cross-departmental special task force under the U.S. Department of Justice, made up of the Federal Bureau of Investigation, the Department of Homeland Security, and the Department of the Treasury, to coordinate investigations into crypto fraud and hacker attacks.
FBI’s “2025 Internet Crime Report” Summary Loss Figures
(Source: FBI)
According to the FBI’s official publication of the “2025 Internet Crime Report” and related data:
Total number of cryptocurrency-related complaints: 181,565 cases
Total loss amount: more than $11.3 billion, up 21% year over year
Investment fraud losses: $7.2 billion (the largest share of total losses)
Age 60 and above: 44,555 complaints submitted, with losses of $4.43 billion (the highest among all age groups)
TRM Labs’ report also shows that in 2025, wallets linked to illegal activity received $158 billion in cryptocurrency, up from $64.5 billion in 2024; however, the share of illegal activity in all cryptocurrency activity fell to 1.2%.
Composition and responsibilities of the special task force confirmed in the bill
Under the bill, the confirmation framework for the special task force is as follows:
Location: Department of Justice
Leadership mechanism: led by the U.S. Attorney General
Member agencies: FBI, Department of Homeland Security, Department of the Treasury
Three responsibilities: coordinate investigative work; develop standard operating procedures for local police to handle cryptocurrency theft cases; provide better support for victims
In a statement, Rep. Gooden said, “Americans lack a unified strategy to stop crypto criminals from stealing their millions of dollars.” The Digital Chamber said law enforcement agencies need better tools and training; Dennis Porter of the Satoshi Action Fund said the bill would provide a “single federal response—something victims, investigators, and local law enforcement have long lacked.”
Background of NCET dissolution and the current law-enforcement setup
The Trump administration disbanded the Department of Justice’s National Cryptocurrency Enforcement Team (NCET) in 2025. Officials argued that the previous administration used the team to regulate cryptocurrencies through lawsuits rather than focusing on fighting crime.
Currently, federal cryptocurrency crime enforcement is spread across multiple agencies: the “Joint Ransomware Task Force” (formed in 2021) coordinates responses to ransomware attacks across agencies; in 2025, the U.S. Department of the Treasury established the “Anti-Fraud Center Strike Team,” led by the U.S. Attorney for the District of Columbia, which has seized more than $700 million in cryptocurrency. The related funds are linked to fraud activities by Chinese organized-crime networks operating via intermediaries in Southeast Asia.
The FBI’s “Operation Level Up,” launched in 2024, has helped recover about $500 million in losses. Of that, 2025 recovered $225.8 million, and it recorded 3,780 beneficiary victims.
Frequently asked questions
What is the current legislative progress of the “Federal Cryptocurrency Theft Enforcement and Coordination Act”?
According to reports, the bill still needs to pass committee review before it can become law, or it would need to be included as part of a larger legislative package. The bill was jointly introduced by Rep. Gooden, a member of the House Judiciary Committee, and Rep. Gottheimer, a member of the House Financial Services Committee, as a bipartisan proposal.
How does the proposed new special task force differ from the dissolved NCET?
NCET was set up during the Biden administration, and Trump administration officials say it was used to regulate cryptocurrencies through litigation. The special task force proposed in the new bill emphasizes coordinating cross-agency law enforcement, providing a unified reporting channel for victims, and setting standard operating procedures for local law-enforcement agencies—positioning it as a law-enforcement coordination body rather than a regulatory one.
How much loss has the FBI’s Operation Level Up recovered so far?
Since its launch in 2024, the FBI’s “Operation Level Up” has cumulatively helped recover about $500 million in losses. Of that, $225.8 million was recovered in 2025 alone, and 3,780 beneficiary victims have been recorded.
