Federal Cryptocurrency Theft Enforcement and Coordination Act

If passed, this bill creates a centralized federal mechanism for investigating crypto theft, potentially increasing recovery rates for victims and deterring organized theft rings. Federal task forces on financial crimes (such as the Financial Cyber Crimes Center and previous task forces on mortgage fraud) have historically improved interagency information sharing and conviction rates. However, without specified funding, staffing levels, or statutory authority for subpoenas and asset seizure, the task force's effectiveness depends on appropriations and agency cooperation. The bill signals federal commitment to treating crypto assets as protectable property, which may increase mainstream institutional adoption but does not address underlying regulatory gaps in exchange licensing or consumer protection standards.