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EXCLUSIVE Government, industry push bitcoin regulation to fight ransomware scourge

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Government and industry officials confronting an epidemic of ransomware, where hackers freeze the computers of a target and demand a payoff, are zeroing in on cryptocurrency regulation as the key to combating the scourge, sources familiar with the work of a public-private task force said.

In a report on Thursday, the panel of experts is expected to call for far more aggressive tracking of bitcoin and other cryptocurrencies. While those have won greater acceptance among investors over the past year, they remain the lifeblood of ransomware operators and other criminals who face little risk of prosecution in much of the world.

Just a week ago, the U.S. Department of Justice established a government group on ransomware. Central bank regulators and financial crime investigators worldwide are also debating if and how cryptocurrencies should be regulated. It also calls for the creation of a special team of experts within the Justice Department to facilitate seizures of cryptocurrency, a process currently fraught with logistical and legal challenges., which would expand disclosure rules for transactions worth more than $10,000.

Governments are already using the blockchain ledger that documents all bitcoin transactions to bring some charges. Last week, authorities arrested a man in Los Angeles and accused him of laundering more than $300 million through a service that combines transactions from multiple cryptocurrency wallets to obscure who is paying whom.

 

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Good luck

Lies

Yes ... that's why they're doing it.

Pouring your wealth into a global mesh of copper and silicon passing 10,000 anonymous humans/per transaction is not the brightest thing you can do. But Americans are inherently stupid, so...

Wilburforceuk

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Government and industry push bitcoin regulation to fight ransomware scourgeA public-private task force is expected to call for far more aggressive tracking of bitcoin and other cryptocurrencies on Thursday. Companies getting their info stolen gotta get safer. Not sure how regulation fixes this. Web3 protocols like Filecoin and dfinity can do a better job solving these issues. All who have bot this Seaming Coin will dearly be disappointed if Economy Dave down.. Nice gold coin on that pic! 🤣
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Government, industry push bitcoin regulation to fight ransomwareGovernment and industry officials confronting an epidemic of ransomware are zeroing in on cryptocurrency regulation as the key to combating the scourge, sources familiar with the work of a public-private task force say. The more US suppresses crypto the more ground they will lose to countries like china.. The problem with ransomware is RANSOMWARE, not the payment medium..
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