JOE BIDAN: US Assemble 30 countries to stop “illegal use of cryptocurrencies”

President Joe Biden has stated that the United States will gather together 30 countries to combat “illicit cryptocurrency use.” Biden went on to say that the US is “working closely with governments all across the world” to combat cybersecurity threats.

According to Biden, the US will bring together 30 countries to combat the illegal use of cryptocurrency

In honor of National Cybersecurity Awareness Month, the White House published a message from President Joe Biden on the government’s cybersecurity efforts on Friday.

President Biden stated that the United States is “working closely with governments all across the world” to combat cybersecurity threats, including “our NATO allies and G7 partners.” He went on to say that this month:

The US will bring together 30 nations to speed up our cooperation in combatting cybercrime, increasing law enforcement coordination, preventing the illegal use of cryptocurrencies, and engaging diplomatically on these problems.

“Every American and every American corporation must join the federal government in these endeavors. We must safeguard our digital doors — for example, by encrypting our data and employing multifactor authentication — and we must create technology that is secure by design, allowing customers to recognize the dangers associated with the products they purchase,” Biden added.

“I am committed to strengthening our cybersecurity by strengthening our critical infrastructure against cyberattacks, disrupting ransomware networks, and working to establish and promote clear traffic rules for all nations in cyberspace, and making clear that those who threaten our security will be held accountable,” the US president said

The Biden administration has stepped up its anti-ransomware measures. As part of an interagency effort to combat ransomware, the Treasury Department announced “a series of steps aimed at disrupting criminal networks and virtual currency exchanges responsible for laundering ransoms” in September.

Cryptocurrencies are frequently used to enable money laundering, ransomware attacks, and other financial crimes, according to the Bank for International Settlements (BIS).

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