President Joe Biden says that the U.S. will bring together 30 countries to stop “the illicit use of cryptocurrency.” The United States “is partnering closely with countries around the world” to respond to cybersecurity threats, Biden added.
US Will Bring 30 Countries Together to Combat Illicit Use of Crypto, Says Biden
The White House released a statement by President Joe Biden Friday on the government’s cybersecurity efforts as October is Cybersecurity Awareness Month.
President Biden explained that the United States “is partnering closely 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 combating cybercrime, improving law enforcement collaboration, stemming the illicit use of cryptocurrency, and engaging on these issues diplomatically.
“The federal government needs the partnership of every American and every American business 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 US President said: “I am committed to strengthening our cybersecurity by strengthening our critical infrastructure against cyber attacks, disrupting ransomware networks, working to establish and promote clear rules of the road for all nations in the world. cyberspace, and making it clear that we will hold accountable those who threaten our security.
The Biden administration has been increasing efforts to fight ransomware. In September, the US Treasury Department announced “a package of actions aimed at disrupting criminal networks and virtual currency exchanges responsible for ransom laundering” as part of the whole-of-government effort to fight ransomware.
The Bank for International Settlements (BIS) said in June that in many cases, cryptocurrencies “are used to facilitate money laundering, ransomware attacks, and other financial crimes.”
