bitcoin

U.S prepare new sanctions to tackle crypto-ransomware attacks

President Joe Biden’s administration is making efforts, including sanctions, to curb crypto-ransomware attacks. 

As part of its efforts to restrict ransomware attackers and their operations,  is expected to introduce new policies next week.

A report by the Wall Street Journal claims that the sanctions will attack “specific targets,” and not the general crypto industry.

US SEC Chief agrees with Pres. Biden on sanctions against Crypto-ransomware attacks 

Crypto-ransomware attacks

The proposed introduction of these sanctions aligns with the thoughts of US SEC Chief Gary Gensler who called for more cryptocurrency regulation during his testimony at the Senate on Tuesday.

“I fear that if the field, which I studied for 3.5 years at MIT, stays outside the public policy framework for Anti-Money Laundering (AML), investors protection, and tax fraud … it is not going to persist,” Gensler told the Senate Banking Committee.

This move is part of an extensive agenda from President Biden’s administration to tackle crypto-ransomware attacks.  

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Photo credit: Unsplash and Aljazeera

About Godwin

Godwin is a multi-faceted writer. He covers the latest and most significant news in the crypto industry for Newsbsc. Aside from his work here, he writes exceptional SEO optimized web contents for other websites in different sectors.

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