Bitcoin: USA wants stronger regulation of cryptocurrencies, fight against ransomware

Enlarge image

Bitcoin: Popular means of payment in the shadowy world

Photo: PAWEL KOPCZYNSKI / REUTERS

The core element of the proposals is breaking the anonymization of crypto transactions, as the Reuters news agency learned in advance from people familiar with the matter. Among other things, crypto exchanges should have to find out more about their customers, and license requirements for owners of electronic currencies and rules for money laundering should be tightened. A new special department of the Ministry of Justice should specialize in the seizure of cryptocurrencies such as Bitcoin, a currently difficult process.

"That would be a huge thing," said a senior representative of the Homeland Security Department, who did not want to be named.

"This is a world that was created specifically to be able to remain anonymous. But at some point you have to give up something in order to be able to guarantee the safety of everyone."

Fight against ransomware extortion software

The task force includes representatives from the Federal Police FBI and the Secret Service, which is also responsible for certain financial offenses in the USA.

Big technology and security companies are also involved.

Some of the proposals would require new legislation.

In the USA, the state and business are fighting against a wave of blackmail software - called "ransomware" - in which the victims' data is encrypted.

To get them back, the hackers demand cash payments, often in the form of cryptocurrencies such as Bitcoin.

In addition to companies and authorities, hospitals and schools are also affected.

Two members of the expert group recently put the amount extorted last year at almost $ 350 million - tripling compared to 2019.

la / reuters