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US establishes coalition to crack down on cybersecurity threat

US establishes coalition to crack down on cybersecurity threat

The US authorities are big fans of various coalitions. They strive to create one at every opportunity. A fresh example of such cooperation led by the White House has become the union of 30 nations whose main goal is to combat illegal cryptocurrency transactions. US President Joseph Biden publicly revealed its establishment and said that the US had found strong allies to wage war against illicit crypto transactions. The first online press conference of this union will take place this month and address the issue of countering cybercrime. The Biden administration confirmed that 30 countries had already joined the coalition.

“This month, the United States will bring together 30 countries to accelerate our cooperation in combatting cybercrime, improving law enforcement collaboration, stemming the illicit use of cryptocurrency, and engaging on these issues diplomatically,” the White House statement revealed.

The main issue to be discussed during the online meeting will be the misuse of virtual currencies to launder ransom payments. The US authorities intend to ramp up global efforts to address the threat of ransomware to economic and national security. The participants will also look for ways to invest in trusted 5G technologies and to better secure global supply chains. Notably, Mr. Biden has not mentioned the countries invited by the United States to the dialogue but revealed the name of the new cooperation - the Counter-Ransomware Initiative.

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