President Joe Biden said the United States will bring together 30 countries to stop the “illegal use of cryptocurrency.” Biden said the United States is “participating closely with countries around the world” to respond to cybersecurity threats.
Biden said the United States will bring 30 countries together to combat the illicit use of cryptocurrency
The White House released a statement from President Joe Biden on Friday about the government’s cybersecurity efforts as October is Cyber Security Awareness Month.
President Biden made it clear that the United States “is closely engaged with countries around the world” to respond to cybersecurity threats, “including our NATO allies and our G7 partners.” He added that this month:
The United States will bring together 30 countries to accelerate our cooperation in fighting cybercrime, improve law enforcement cooperation, stop the illicit use of cryptocurrency, and engage in these issues diplomatically.
The federal government needs every American company and every American company to partner in this effort. We must close our digital doors — by encrypting our data and using multi-factor authentication, for example — and we must build technology securely by design, enabling consumers to understand the risks in the technologies they buy,” Biden continued.
“I am committed to strengthening our cybersecurity by strengthening our critical infrastructure against cyberattacks, disrupting ransomware networks, working to create and strengthening clear rules of the road for all nations in cyberspace, and making it clear that we will hold accountable those who threaten our security,” the President of the United States said.
The Biden administration is increasing efforts to fight ransomware. In September, the US Treasury announced “a set of measures focused on disrupting the criminal networks and virtual currency exchanges responsible for ransom laundering” as part of the entire government’s efforts to combat ransomware.
The Bank for International Settlements (BIS) stated in June that in many cases cryptocurrencies are used to “facilitate money laundering, ransomware attacks, and other financial crimes.”
What do you think of President Joe Biden’s efforts to stop the “illicit use of cryptocurrencies”? Let us know in the comments section below.
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regulation, cooperation, cooperation, countries, g7, illegal use of cryptocurrency, Joe Biden, NATO, ransomware, US President