U.S. to target ransomware payments in cryptocurrency with sanctions
(Reuters) – The Biden administration is preparing to take actions, including sanctions, to make it more difficult for hackers using digital currency to profit from ransomware attacks, the Wall Street Journal reported https://www.wsj.com/articles/u-s-to-target-crypto-ransomware-payments-with-sanctions-11631885336?mod=latest_headlines on Friday.
According to people who are familiar with this matter, the U.S. Treasury will impose sanctions within the next week.
WSJ reported that the U.S. Treasury department would also release new guidance about ransomware payments. This will include fines as well as other penalties.
The report said that new anti-money laundering and terror finance regulations will be issued later in the year. They are intended to restrict the use cryptocurrency to pay ransomware attackers and other illegal activities.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Trading the financial markets is one of most risky investment options. Please make sure you are fully aware about the costs and risks involved.