US Ministry of Finance is aimed at crypto exchanges in total-state efforts to combat ransomware-regulation
US Ministry of Finance is aimed at crypto exchanges in total-state efforts to combat ransomware-regulation
The US Ministry of Finance has taken measures against cryptocurrency exchanges that are "responsible for ransom" as part of the total-state efforts to combat ransomware. A cryptocurrency exchange has already been sanctioned together with the associated crypto addresses. "We will continue to proceed hard against malicious players," said finance minister Janet Yellen.
US government is aimed in fighting ransomware on crypto exchanges
The US Ministry of Finance announced a number of measures to combat ransomware on Tuesday, including the publication of a target = "_ blank" htef = "https://home.treaeasury.gov/system/fac_ransomware_advisory.pdf" Rel = "noopener"> Ransomware and the adding of to the list of the special designated national Control (OFAC).
The Ministry of Finance said:
As part of the total-state effort to combat ransomware, the US Ministry of Finance announced a number of measures that aim to disturb criminal networks and virtual wallets that are responsible for ransom.
The measures also aim to improve cyber security in the entire private sector and to increase ransomware payments to US government authorities, including the Ministry of Finance and the law enforcement authorities. The announcement also means that the ransomware payments exceeded the $ 400 million mark in 2020, more than four times their level in 2019.
"Some virtual foreign exchange exchanges are a critical element of this ecosystem, since virtual currencies are the most important means to facilitate ransomware payments and associated money laundering activities," said the Ministry of Finance:
While most virtual currency activities are legal, virtual currencies can be used for illegal activities through peer-to-peer exchangers, mixers and stock exchanges. This includes facilitating sanction bypass, ransomware programs and other cybercrime.
The sanctioning cryptocurrency sancta was suex. to facilitate "financial transactions for ransomware players". According to the Ministry of Finance, this was the first crypto exchange to aim at "the laundry of cyber resume". All assets and participations in the stock exchange, "which are subject to US judiciality, are blocked, and US people are generally prohibited from doing business with them," says the announcement.
Finance Minister Janet Yellen commented: "Ransomware and cyber attacks make large and small companies victim to all over America and represent a direct threat to our economy. We will continue to act hard against malicious players." She added:
Since cybercriminals use more and more sophisticated methods and technologies, we undertake to take the entire range of measures, including sanctions and regulatory instruments to disturb, scare and prevent ransomware interviews.
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