Overview
- Senators Elissa Slotkin (D‑MI) and Jerry Moran (R‑KS) introduced the measure, which remains at the introduction stage in Congress.
- The task force would bring together the Treasury, law enforcement, financial regulators, and private‑sector experts including exchanges and blockchain intelligence firms.
- The Secretary of the Treasury would be required to establish the group within 180 days of enactment, and it would meet at least three times each year.
- Core duties include scam detection and prevention, information sharing, asset recovery, support for local investigators, public education, and recommendations to Congress, with an initial report due within one year followed by annual updates.
- Sponsors point to recent loss estimates as rationale, including $51.3 billion in illicit 2024 crypto volume (Chainalysis) and $9.3 billion in U.S. scam losses (FBI), while early records cite the bill as S.3428 with full text not yet posted.