US senators Catherine Cortez Masto and Chuck Grassley have introduced new legislation aimed at strengthening the Secret Service's authority to investigate cryptocurrency crimes. The bill would give the Secret Service greater powers to deal with transnational cyber crimes such as undocumented money transfers, structured transactions and financial fraud. The bill also encourages the Secret Service to work with federal agencies like the Justice Department and the Financial Crimes Enforcement Network (FinCEN) to form a united front. While the bill has received support from the financial and cyber security communities, some privacy advocates have raised concerns about potential power overreach.