H.R. 2978: GUARD Act
Sponsor
Zachary Nunn
Republican · IA-3
HR2978 Legislative Journey
House: Committee Action
Jun 24, 2026
Reported (Amended) by the Committee on Financial Services. H. Rept. 119-709, Part I.
House: Vote: 52-0
May 13, 2026
Ordered to be Reported (Amended) by the Yeas and Nays: 52 - 0.
House: Committee Action
Apr 21, 2025
Referred to the Committee on the Judiciary, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
About the Sponsor
Zachary Nunn
Republican, Iowa's 3rd congressional district · 3 years in Congress
Committees: House Select Committee on the Strategic Competition Between the United States and the Chinese Communist Party, Agriculture, Financial Services
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Cosponsors (51)
This bill has 51 cosponsors: 22 Democrats, 29 Republicans, reflecting bipartisan support. Cosponsors represent 27 states: Alabama, California, Colorado, and 24 more.
Josh Gottheimer
Democrat · NJ
Scott Fitzgerald
Republican · WI
Troy Nehls
Republican · TX
Jefferson Shreve
Republican · IN
Sarah McBride
Democrat · DE
Daniel Meuser
Republican · PA
Roger Williams
Republican · TX
Barry Moore
Republican · AL
Laura Gillen
Democrat · NY
Josh Harder
Democrat · CA
Eric Sorensen
Democrat · IL
Julia Brownley
Democrat · CA
Committee Sponsors
Financial Services Committee
13 of 53 committee members cosponsored
Judiciary Committee
7 of 44 committee members cosponsored
36 Republicans across these committees haven't cosponsored yet. Mobilize their constituents
H.R. 2978 Quick Facts
- Committee
- Financial Services
- Chamber
- House
- Policy
- Crime and Law Enforcement
- Introduced
- Apr 21, 2025
Reported (Amended) by the Committee on Financial Services. H. Rept. 119-709, Part I.
Jun 24, 2026
Who is lobbying on H.R. 2978?
2 organizations lobbying on this bill
DEFI EDUCATION FUND | 2 |
BLOCKCHAIN ASSOCIATION | 1 |
Showing 1-2 of 2 organizations
H.R. 2978 Common Questions
Can police use federal grants to buy blockchain tracing tools for crypto scams?
Yes. Under the GUARD Act, State, local, and Tribal law enforcement may use eligible federal grant funds for software, technical tools, and training on blockchain intelligence and complex financial investigations (Section 3).
How soon would agencies have to report how they used GUARD Act fraud grant funds?
Agencies must report to the grant provider within 1 year after using the funds, according to the GUARD Act (Section 3). The report must include the amount used, purpose, fraud statistics, and impact analysis.
What are police allowed to spend GUARD Act grant funds on?
Under the GUARD Act (Section 3), funds can support hiring analysts and experts, fraud-investigation training, software and technical tools, data reporting improvements, bank exercises, and a financial sector liaison.
Does the GUARD Act include a report on pig butchering scams?
Yes. The Treasury Secretary and FinCEN must submit a joint report to Congress on general financial fraud, pig butchering, and elder financial fraud within 1 year of enactment under the GUARD Act (Section 4).
How long would the government have to publish a national scams report under the GUARD Act?
The GUARD Act requires a report on the state of scams in the United States within 2 years of enactment (Section 5). Treasury and FinCEN would prepare it with other federal regulators.
Which scam types would the GUARD Act require the government to count?
Under the GUARD Act (Section 5), the report must estimate attempted and successful scams involving social media, dating apps, email, impersonation, and phone number impersonation.
Does the GUARD Act track how much money consumers lose to scams?
Yes. The national scams report must include the number of consumers who lost money and the total dollar amount lost under the GUARD Act (Section 5).
Can federal law enforcement help local police trace cryptocurrency scam funds under the GUARD Act?
Yes. According to HR2978 Section 7, federal law enforcement may assist State, local, and Tribal agencies and fusion centers in using blockchain tracing tools and related technology.
Does the GUARD Act apply only to states, or also DC and U.S. territories?
It covers more than states. Under the GUARD Act (Section 2), “State” includes the several States, the District of Columbia, and U.S. territories.
What counts as elder financial fraud under the GUARD Act?
Under the GUARD Act (Section 2), elder financial fraud means the illegal or improper use of an elderly person’s or adult with a disability’s money, property, or resources for personal or monetary gain.
Based on H.R. 2978 bill text
H.R. 2978 Bill Text
“To permit State, local, and Tribal law enforcement agencies that receive eligible Federal grant funds to use such funds for investigating elder financial fraud, pig butchering, and general financial fraud, and to clarify that Federal law enforcement agencies may assist State, local, and Tribal law enforcement agencies in the use of tracing tools for blockchain and related technology, and for other purposes.”
Source: U.S. Government Publishing Office
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