Bill targets Southeast Asia crypto fraud networks

What does this do?

This bill creates a new government task force led by the Secretary of State, with officials from the Departments of Justice, Homeland Security, and Treasury. Within six months of passage, the task force must deliver a strategy to Congress that could include sanctions, cyber operations, pressure on foreign governments, and working with banks and tech companies to cut off scammers. People who are trafficked and forced to run these scams would be protected from criminal charges and directed toward support services instead.

Who does it affect?

Americans who have lost money to these scams and people trafficked into scam operations are directly affected. Foreign individuals and organizations identified as potential sanction targets are also affected by this bill.

Why does it matter?

Large-scale cryptocurrency fraud schemes, often called pig butchering scams, are run by criminal organizations primarily based in Southeast Asia and have cost Americans billions of dollars. Without a coordinated response, these operations and the harm they cause may continue to grow.

What does it cost, and who pays?

• Up to $30M/year authorized
• Covers 2026–2027
• Funds task force work

Where does it stand?