Representations of cryptocurrencies Bitcoin, Ethereum, DogeCoin, Ripple, Litecoin are positioned on PC motherboard on this illustration taken, June 29, 2021. REUTERS/Dado Ruvic/Illustration/File Photograph
Sept 17 (Reuters) – The Biden administration is making ready to take actions, together with sanctions, to make it tougher for hackers utilizing digital forex to revenue from ransomware assaults, the Wall Avenue Journal reported on Friday.
The U.S. Treasury division plans to impose sanctions as quickly as subsequent week, the report stated, citing individuals conversant in the matter.
The division may even concern a brand new steerage on the dangers related to facilitating such ransomware funds, WSJ reported, together with fines and different penalties.
New anti-money laundering guidelines and terror finance guidelines, that are anticipated to return later this yr, will purpose to restrict the usage of cryptocurrency for funds in ransomware assaults and different illicit actions, the report added.
Reporting by Sohini Podder in Bengaluru; Modifying by Shinjini Ganguli
Our Requirements: The Thomson Reuters Trust Principles.
