US to work with other countries to stop “illegal use of cryptocurrencies”
2 min readPresident Joe Biden says the United States will unite 30 countries to stop the “illegal use of cryptocurrencies.” The United States is “working closely with nations around the world” to respond to cyber security threats, Biden said.
United States will join forces with other countries to combat the illegal use of cryptocurrencies
The White House issued a statement on Friday by President Joe Biden on the government’s efforts in the field of cyber security, because October is the month of cyber security awareness.
President Biden explained that the United States “works closely with nations around the world to respond to cyber security threats, including our NATO allies and G7 partners.” He added that this month:
“The United States will unite 30 countries and accelerate our cooperation in the fight against cybercrime, improve law enforcement cooperation, stop the illegal use of cryptocurrency, and engage diplomatically in these issues.”
“The federal government needs a partnership between every American and every American society in this endeavor. We need to lock our digital doors, for example, by encrypting our data and using multi-factor authentication, and we need to create technology securely from the beginning, which will allow consumers to understand the risks in the technologies they buy, ”Biden continued.
The President of the United States added: “I am committed to strengthening our cyber security by strengthening our infrastructure against cyber attacks. We are working to establish and promote clear rules for all nations in cyberspace. “
The Biden administration is stepping up efforts to combat ransomware. In September, the US Treasury Department announced a “set of rules aimed at disrupting criminal networks and virtual currency exchanges responsible for ransom money” as part of a nationwide effort to combat ransomware. The Bank for International Settlements (BIS) said in June that in many cases cryptocurrencies were “used to facilitate money laundering, ransomware attacks and other financial crimes.”
