US Revives 18th Century Law—Trump Could Deputize Private Citizens to Hunt Crypto Scammers
Washington digs deep into legal archives for crypto crackdown solution—because modern regulations just move too slowly for digital asset fraud.
The Proposed Power Shift
Legislation currently under review would empower private citizens to pursue crypto scammers directly—bypassing traditional regulatory bottlenecks. Supporters argue it turbocharges enforcement; critics call it a vigilante's charter wrapped in legal jargon.
Historical Precedent or Hazard?
The 1792 statute originally let merchants chase down stolen goods on open seas. Now it might authorize everyday Americans to track stolen crypto across blockchain networks—an analog solution for a digital problem, because nothing says 'modern finance' like laws written before electricity.
Enforcement Meets Entrepreneurship
Private deputization could create a cottage industry of bounty hunters specializing in blockchain forensics—turning crypto recovery into the new gold rush, complete with all the same risks and wild-west ethics.
Because when traditional oversight fails, why not crowdsource justice? Just don't expect Wall Street to notice—they're still trying to figure out how to short the concept.
Potential impact
If HR 4988 becomes law, the US could shift from relying primarily on intelligence-gathering to actively deploying private actors in cybercrime interventions.
This MOVE comes amid growing frustration with the surge in high-profile crypto hacks. In 2025 alone, state-sponsored groups such as North Korea’s Lazarus Group have orchestrated major attacks, including a $1.5 billion exploit on Bybit in February and breaches targeting other major platforms like India’s CoinDCX.
Law enforcement agencies have struggled to apprehend the perpetrators or recover stolen funds, exposing crypto investors and the platforms.
Considering this, Schweikert said:
“Americans deserve protection from digital predators who exploit outdated laws and hide in foreign jurisdictions. This proposal harnesses innovation and constitutional authority to respond to the modern crisis of cybercrime.”
