Biden Administration, Bitcoin analysis, crypto analysis, cryptocurrency analysis, Joe Biden, ransomware, Ransomware attack, ransomware bitcoin, ransomware cryptocurrency, White house

The U.S. government is expanding its cryptocurrency analysis in a strategy to find and pursue criminal transactions. This comes in the wake of a rising problem of ransomware involving cryptocurrency, such as bitcoin. “Combating ransomware is a priority for the administration,†said a spokesperson for the White House.

US Government to Expand Cryptocurrency Analysis

The Biden administration unveiled its strategy to combat cryptocurrency ransomware in a White House press briefing Tuesday.

“Combating ransomware is a priority for the administration,†White House Principal Deputy Press Secretary Karine Jean-Pierre said. “President Biden has already launched a rapid strategic review to address the increased threat of ransomware to include four lines of effort.â€

Jean-Pierre described that one line of effort targets the “distribution of ransomware infrastructure and actors working closely with the private sector,†while another focuses on “building an international coalition to hold countries who harbor ransom actors accountable.†There is also an effort to review “USG’s ransomware policies,†she affirmed, adding that another line of effort is:

The White House’s principal deputy press secretary further explained that the four lines of effort build on President Joe Biden’s executive order which “outlines five high-priority cybersecurity initiatives that, if implemented, will reduce the risk of cyberattacks including ransomware.â€

Ransomware attacks are on the rise worldwide. In the U.S., several major companies have recently been hit with ransomware demanding payments in bitcoin. JBS, the world’s largest meat producer, has reportedly been dealing with what it called an “organized cybersecurity attack†since the end of May.

The Colonial Pipeline, which supplies the East Coast with nearly half of its fuel needs, also shut down in May for several days when a ransomware attack locked up some of its systems. The pipeline was back online in less than a week but the company admitted to paying a ransom of millions of dollars in bitcoin.

What do you think about the Biden administration expanding cryptocurrency analysis? Let us know in the comments section below.

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Du lịch nhật bản, hướng dẫn du lịch Nhật và đánh giá địa điểm Nhật Bản Japan travel news, japan travel guides, japan holiday destinations and japan reviews

RELATED NEWS

Bitcoin Keys Cannot be Hacked: Skeptics Question the Official Colonial Pipeline Bitcoin Seizure Story

On June 7, the United States Justice Department and the Federal Bureau of Investigation (FBI) announced the “recovery†of 63.70 bitcoin from the funds Colonial Pipeline sent to the hackers. The official story has a number of inconsistencies and federal investigators did not disclose how the FBI was able to confiscate the Darkside gang’s private […]

Xem chi tiết: Bitcoin Keys Cannot be Hacked: Skeptics Question the Official Colonial Pipeline Bitcoin Seizure Story

Donald Trump Detests Bitcoin, Calls BTC a Scam, Wants Heavy Crypto Regulation

Former U.S. President Donald Trump says he does not like bitcoin because it is a currency that competes with the dollar, which he wants to be the currency of the world. He calls bitcoin a scam and wants cryptocurrency to be very heavily regulated. Trump Thinks Bitcoin Is a Scam, Wants Heavy Regulation on Crypto […]

Xem chi tiết: Donald Trump Detests Bitcoin, Calls BTC a Scam, Wants Heavy Crypto Regulation

White House Tech Advisor Tim Wu Keeps at Least $1 Million in Bitcoin

Tim Wu, top advisor to the Biden administration on technology and competition policy, holds more than $1 million in cryptocurrency, shows a recently filed financial disclosure. The antitrust expert, who is known as a prominent big tech critic, has in the past questioned the value of bitcoin. Top Biden Advisor Tim Wu Is a Bitcoin […]

Xem chi tiết: White House Tech Advisor Tim Wu Keeps at Least $1 Million in Bitcoin

White House Tech Advisor Tim Wu Keeps at Least $1 Million in Bitcoin

Tim Wu, top advisor to the Biden administration on technology and competition policy, holds more than $1 million in cryptocurrency, shows a recently filed financial disclosure. The antitrust expert, who is known as a prominent big tech critic, has in the past questioned the value of bitcoin. Top Biden Advisor Tim Wu Is a Bitcoin […]

Xem chi tiết: White House Tech Advisor Tim Wu Keeps at Least $1 Million in Bitcoin

Donald Trump Detests Bitcoin, Calls BTC a Scam, Wants Heavy Crypto Regulation

Former U.S. President Donald Trump says he does not like bitcoin because it is a currency that competes with the dollar, which he wants to be the currency of the world. He calls bitcoin a scam and wants cryptocurrency to be very heavily regulated. Trump Thinks Bitcoin Is a Scam, Wants Heavy Regulation on Crypto […]

Xem chi tiết: Donald Trump Detests Bitcoin, Calls BTC a Scam, Wants Heavy Crypto Regulation

FBI Agent Recovers Private Key to $2.3M in Bitcoin Paid to Colonial Pipeline Hackers

U.S. law enforcement officials from the Justice Department on Monday announced the seizure of $2.3 million dollars worth of crypto assets that were paid to the Colonial Pipeline hackers. Deputy Attorney General Lisa Monaco explained during a news conference that federal agents “recaptured the majority of the ransom Colonial paid to the Darkside network.†FBI […]

Xem chi tiết: FBI Agent Recovers Private Key to $2.3M in Bitcoin Paid to Colonial Pipeline Hackers

US Senators Call for Increased Measures to Regulate and Trace Cryptocurrencies

Two U.S. senators have urged lawmakers to increase measures to regulate cryptocurrencies, including how to trace cryptocurrency transactions, in order to combat ransomware attacks. “We haven’t figured out in the country or in the world how to trace cryptocurrency,†one senator said, adding that “We’ve got to do a better job here.†Senators Urge Lawmakers […]

Xem chi tiết: US Senators Call for Increased Measures to Regulate and Trace Cryptocurrencies

Biden Makes Cryptocurrency a Focus of New Anti-Corruption Directive for National Security

Cryptocurrency is a point of focus in President Joe Biden’s new directive aimed at combating corruption as a core national security interest of the U.S. An official of the Biden administration says that major parts of the directive will focus on cryptocurrency and cybercrime. Crypto a Focus in Biden’s New Directive for National Security President […]

Xem chi tiết: Biden Makes Cryptocurrency a Focus of New Anti-Corruption Directive for National Security

Biden Makes Cryptocurrency a Focus of New Anti-Corruption Directive for National Security

Relief Payments Coming? 80 Legislators Press Biden Administration for a Fourth Round of Stimulus

SEC Urges Congress to Pass Cryptocurrency Legislation to Protect Investors

Whistleblower Edward Snowden Says $6 Trillion in Stimulus Is ‘Good for Bitcoin’

Whistleblower Edward Snowden Says $6 Trillion in Stimulus Is ‘Good for Bitcoin’

SEC Urges Congress to Pass Cryptocurrency Legislation to Protect Investors

White House Defends Trillion-Dollar Stimulus While Jamie Dimon and Larry Summers Warn of Runaway Inflation

Biden Administration Looking to Increase Cryptocurrency Oversight to Protect Investors, Prevent Illicit Transactions

Other Articles