WASHINGTON—Two senators have introduced a bill that seeks to expand the Secret Service’s powers to investigate and prosecute digital asset-related crimes.
The “Combatting Money Laundering in Cyber Crime Bill of 2024” is being co-sponsored by Sens. Catherine Cortez Masto (D-NV) and Charles Grassley (R-IA).
The bill includes provisions that give the Secret Service power to investigate and prosecute crypto-related crimes. The bill specifically grants the agency powers to investigate crimes against financial institutions, according to Cryptopolitan.
The bill also seeks to increase the Secret Service’s prosecution powers in digital asset-related criminal activity.
Grassley pointed out that the bill encourages more threat assessments geared toward identifying and combating financial institution fraud and unlicensed money-transmitting enterprises, the report added.