US Bringing 30 Countries Together to Stop ‘Illicit Use of Cryptocurrency’ – Regulation Bitcoin News
President Joe Biden says that the U.S. will carry collectively 30 nations to cease “the illicit use of cryptocurrency.” The United States is “partnering closely with nations around the world” to answer the cybersecurity threats, Biden additional stated.
US Will Bring 30 Countries Together to Combat Illicit Use of Crypto, Says Biden
The White House launched an announcement by President Joe Biden Friday on the federal government’s cybersecurity efforts as October is Cybersecurity Awareness Month.
President Biden defined that the U.S. is “partnering closely with nations around the world” to answer the cybersecurity threats, “including our NATO allies and G7 partners.” He added that this month:
The United States will carry collectively 30 nations to speed up our cooperation in combating cybercrime, bettering regulation enforcement collaboration, stemming the illicit use of cryptocurrency, and fascinating on these points diplomatically.
“The Federal government needs the partnership of every American and every American company in these efforts. We must lock our digital doors — by encrypting our data and using multifactor authentication, for example—and we must build technology securely by design, enabling consumers to understand the risks in the technologies they buy,” Biden continued.
The U.S. president opined: “I am committed to strengthening our cybersecurity by hardening our critical infrastructure against cyberattacks, disrupting ransomware networks, working to establish and promote clear rules of the road for all nations in cyberspace, and making clear we will hold accountable those that threaten our security.”
The Biden administration has been growing efforts to combat ransomware. In September, the U.S. Department of the Treasury introduced “a set of actions focused on disrupting criminal networks and virtual currency exchanges responsible for laundering ransoms” as a part of the whole-of-government effort to counter ransomware.
The Bank for International Settlements (BIS) stated in June that in lots of instances, cryptocurrencies “are used to facilitate money laundering, ransomware attacks, and other financial crimes.”
What do you consider President Joe Biden’s efforts to cease “the illicit use of cryptocurrency”? Let us know within the feedback part under.
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