Fitzgerald’s Digital Asset Cyber Crime Bill Advances from Financial Services Committee

WASHINGTON, DC – Today, Congressman Scott Fitzgerald (WI-05) issued the following statement following passage of his legislation in a Financial Services Committee Markup—H.R. 7156, the Combating Money Laundering in Cyber Crime Act.

The Combatting Money Laundering in Cyber Crime Act would harmonize criminal and banking statutes and clarify the U.S. Secret Service’s (USSS) investigative authority over crimes related to illicit digital asset transactions. This would ensure the agency can address emerging forms of criminal activity involving digital assets.

“I am pleased to see my bill pass through the Financial Services Committee today,” said Rep. Fitzgerald. “The Combating Money Laundering in Cyber Crimes Act will keep our USSS agile on illicit digital transactions by filling the gap between criminal and anti-money laundering laws. As financial transactions rely more and more on technology, Wisconsinites need to know that law enforcement has the tools to protect them. This bill will protect our communities from transnational cyber-criminal activity, and I’m proud to lead the charge on these safeguards.”

NOTE: This press release was submitted to Urban Milwaukee and was not written by an Urban Milwaukee writer. It has not been verified for its accuracy or completeness.