Sponsors
11 Republican
Ashley MoodySenator · FL
The legislation updates federal fraud laws to explicitly protect digital assets and crypto credentials. By amending the definition of an "access device" under federal criminal law, the bill includes cryptographic keys, tokens, digital asset private keys, and recovery phrases. This change ensures that the theft or unauthorized use of these critical crypto security elements is prosecuted under federal fraud statutes, while also increasing criminal penalties for fraud targeting older Americans.
The bill modernizes federal criminal statutes by integrating digital asset credentials into the existing legal framework for access device fraud. Explicitly adding terms like "cryptographic key," "token," "digital asset private key," and "digital asset recovery phrase" to 18 U.S.C. § 1029 establishes that stealing, phishing, or unauthorized use of these items constitutes a federal crime. This update provides law enforcement with clearer tools to prosecute bad actors who target crypto users through wallet-draining schemes and credential theft. Because the bill focuses strictly on updating criminal definitions to penalize fraudulent acquisition and theft, rather than imposing new regulatory compliance, reporting burdens, or transaction monitoring on legitimate crypto developers, users, or platforms, it is neutral for the industry. By aligning the definition of access devices with modern digital technologies, the legislation addresses criminal exploitation without restricting self-custody rights or placing operational hurdles on decentralized systems.
Every member who has sponsored, cosponsored or voted on this bill. Click a name to see their full record on crypto.
1 Republican