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US Creates Bitcoin Regulation to Fight Ransomware Attacks

Published 04/30/2021, 03:28 AM
Updated 04/30/2021, 03:30 AM
US Creates Bitcoin Regulation to Fight Ransomware Attacks
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  • Together with the private sectors, the government of the United States of America is now creating new Bitcoin regulations.
  • The Bitcoin regulations aim to stop ransomware attacks in the country.

The government of the United States of America and the private sector are now creating new Bitcoin regulations. To be specific, this regulation plans to combat the use of cryptocurrencies as payment for ransomware attacks in the country.

Furthermore, this new Bitcoin regulation will collaborate with the FBI, Secret Service, and tech and security companies. This group of organizations will help others form effective regulations against the abuse of Bitcoin in cyberware attacks.

Philip Reiner, chief executive of the Institute for Security and Technology, who led the Ransomware Task Force, added:

“There’s a lot more that can be done to constrain the abuse of these pretty amazing technologies,”

Meanwhile, the group of the ransom...

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