119-HR-5877 Journalist Public Summary
119 · HR 5877 Combatting Money Laundering in Cyber Crime Act of 2025
A bipartisan House bill would expand Secret Service authority to pursue digital‑asset money laundering and related cybercrime, extend federal information‑sharing programs, and require a GAO review; as of November 4, 2025, it’s newly introduced and sitting in House committees.
Headline Summary
A bipartisan bill would give the Secret Service clearer authority to go after money laundering tied to digital assets and cybercrime, extend key information‑sharing tools, and require an oversight report on how well anti‑money‑laundering rules are working.
What It Does
In plain terms, the bill updates federal law so the Secret Service can more directly investigate crypto‑related money laundering and financial fraud, widens which financial institutions those cases can cover, extends an information‑sharing program between government and industry, and orders a Government Accountability Office (GAO) study on law‑enforcement effectiveness against cyber‑enabled laundering.
- Adds unlicensed money‑transmitting (including digital‑asset activity) to the list of crimes the Secret Service can investigate under existing authority.
- Explicitly includes money laundering and “structured transactions” (breaking up transfers to avoid reporting rules) in the Service’s remit.
- Broadens coverage from only “federally insured” banks to the wider set of “financial institutions” defined in federal anti‑money‑laundering law (a category that can include banks, credit unions, broker‑dealers, and money services businesses such as some crypto firms).
- Extends the FinCEN Exchange program’s authorization from 5 to 10 years to sustain information‑sharing between government and financial institutions.
- Extends a related international‑finance provision from 6 to 10 years.
- Directs GAO to report within 1 year on how well AMLA 2020’s Section 6102 is helping law enforcement detect and deter money laundering in cyber crimes.
Who’s For It
- Bipartisan House sponsors: Reps. Scott Fitzgerald (R‑WI), Brittany Pettersen (D‑CO), Zach Nunn (R‑IA), and Brad Sherman (D‑CA).
- Supporters’ rationale (in general terms): modernize tools to chase crypto‑enabled laundering, close gaps beyond federally insured banks, keep public‑private data sharing going longer, and require an accountability check via GAO.
Who’s Against It
- No formal opposition noted yet at this early stage.
- Potential concerns typically raised on bills like this could include: overbroad surveillance or investigative powers; duplication or overlap with other agencies; impacts on lawful digital‑asset businesses; and insufficient privacy safeguards.
What’s Next
Status as of November 4, 2025: Introduced on October 31, 2025 and referred to the House Committees on Financial Services and the Judiciary. Next steps would likely include committee hearings and markups; if approved, a House floor vote, then consideration in the Senate, and finally the President’s desk if both chambers pass the same text.
Tone
Neutral, factual, and easy to read—aimed at giving an ordinary voter a quick, accurate picture without jargon.
Discussion