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US Rep. Josh Gottheimer Proposes $3M Boost to Treasury’s Crypto Crime-Fighting Unit
The amendment would increase funding to the Treasury’s Office of Terrorism and Financial Intelligence for blockchain analysis tools, training and investigative support.
Updated May 11, 2023, 5:11 p.m. Published Jul 25, 2022, 8:36 p.m.
U.S. Congressman Josh Gottheimer (D-N.J.) has proposed an amendment to the federal budget bill that would give the Treasury Department an additional $3 million to fight crypto-related crime in fiscal 2023.
Gottheimer has proposed that the Treasury’s Office of Terrorism and Financial Intellience – the unit tasked with overseeing crypto crime and ransomware attacks – could use the money to buy better blockchain analysis tools, provide officers with better training and add investigative support to the unit.
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The Office of Terrorism and Financial Intelligence has been asking Congress for more money since 2021, along with several other Treasury units, including the Financial Crimes Enforcement Network (FinCEN) and the Internal Revenue Service, to improve its ability to oversee and investigate cybercrimes.
Gottheimer’s proposed amendment to the budget bill would offset the $3 million in additional funding from the Federal Buildings Fund, a unit under the General Services Administration that oversees federal office buildings.
The bill, which provides funding to the Department of Transportation, the Department of Housing and Urban Development and several related agencies, doesn’t otherwise provide funding to the Treasury Department or any of its agencies.
The amendment is one of nearly 30 to be considered during the next vote, which hasn’t been scheduled yet.
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What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
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UK Plans to Start Regulating Cryptocurrency in 2027
The U.K. government plans to extend existing financial regulation to cover crypto companies, emulating the approach of the U.S. rather than that of the EU.
What to know:
- The U.K. government plans to extend existing financial regulation to cover crypto companies from 2027.
- The Treasury published draft legislation in April, which laid out the framework for crypto exchanges and stablecoin issuance.
- In extending existing financial services rules to the crypto industry, the U.K. will be emulating the approach of the U.S.
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