This 2026 bill would authorize the President to issue "cyber letters of marque and reprisal," which are commissions allowing private companies and individuals to conduct cyberattacks against foreign targets identified as cyberthreats to the United States, such as ransomware operators and digital asset thieves. The legislation aims to address billions of dollars in annual losses from cryptocurrency scams, hacking, and fraud that harm Americans, particularly seniors, by allowing private entities to seize and recover stolen digital assets from designated foreign cybercriminals and state-aligned actors. Recipients of these letters would be required to post security bonds, maintain detailed records of their activities, and cannot conduct operations against U.S. citizens or entities, with the government potentially recovering up to 15 percent of assets seized to fund future operations and a bounty program. The bill provides immunity from lawsuits for private entities conducting operations that are authorized under these letters and allows for whistleblower rewards of up to 5 percent of recovered assets, with remaining recovered funds directed to the Crime Victims Fund. No specific funding or timeline is appropriated by the bill; instead, it establishes a self-funding model where recovered assets finance ongoing operations.
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