Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
The bill expands the United States Secret Service’s statutory investigative authority to cover offenses connected to digital asset transactions, unlicensed money transmitting businesses, structured transactions, and fraud affecting financial institutions.
It lengthens certain statutory timeframes from 5 or 6 years to 10 years in FinCEN and international financial institution provisions.
The bill also requires a GAO study, within one year, on implementation of a 2020 Anti‑Money Laundering provision, focusing on law enforcement’s ability to detect and deter money laundering in cybercrime.
Narrow, technical law-enforcement enhancements with oversight built in increase chances, but sector pushback and Senate procedure add uncertainty.
Relative to its intended legislative type, this bill is a substantive statutory amendment package that aims to broaden Secret Service investigatory authority over offenses connected to digital asset transactions and cyber-enabled financial crime, and to extend or modify certain statutory durations. It also includes a one-year GAO reporting requirement as a secondary element.
Lib/centrist emphasize enforcement + GAO oversight; conservatives stress federal overreach
Lib/centrist emphasize enforcement + GAO oversight; conservatives stress federal overreach
Generally supportive of stronger tools to combat cyber-enabled money laundering, while concerned about civil liberties and equity.
Views GAO review positively as a transparency and accountability mechanism.
Wants explicit privacy safeguards, anti-bias guidance, and oversight to prevent mission creep.
Pragmatic support if the expansion fills enforcement gaps and is accompanied by oversight.
Sees GAO report as useful for evaluating outcomes.
Wants clear interagency roles, cost clarity, and narrow statutory language to avoid duplication.
Wary of expanding federal law enforcement powers and longer data-retention periods.
Supports combating illicit finance, but concerned about federal overreach, regulatory burdens on lawful businesses, and increased bureaucracy.
Would seek tighter scope and protections for legal activity.
Reached or meaningfully advanced
Reached or meaningfully advanced
Still ahead
Still ahead
Still ahead
Narrow, technical law-enforcement enhancements with oversight built in increase chances, but sector pushback and Senate procedure add uncertainty.
The bill has not accumulated any surfaced votes yet.
Lib/centrist emphasize enforcement + GAO oversight; conservatives stress federal overreach
Narrow, technical law-enforcement enhancements with oversight built in increase chances, but sector pushback and Senate procedure add uncer…
Relative to its intended legislative type, this bill is a substantive statutory amendment package that aims to broaden Secret Service investigatory authority over offenses connected to digital asset transactions and cyb…
Go beyond the headline summary with full stakeholder mapping, legislative design analysis, passage barriers, and lens-by-lens tradeoff breakdowns.