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UK and US join forces to combat the illicit use of crypto


TL;DR Breakdown

• The US seeks to curb cybercrime with cryptocurrencies.
• The authority in the UK agrees to talk about ransomware and how to end it.

The UK and US authorities recently pledged to create laws to reinforce the illicit use of crypto. These reforms are motivated by the increase in cyber-attacks and crypto scams that occur in both territories. Behind the announcements is the FBI agency that seeks to stop the Ransomware attack.

According to reports, the countries are agreeing to address the problems of crypto transactions since last Friday, November 19, but it was not until today, Monday, that they made it official.

UK with the US address problems with cryptocurrencies

UK

The crypto market has grown out of control, or the opinion that the UK and the United States authorities focus on. According to the US Justice Office and UK Interior Agency, cryptos are used for illegal operations, favoring cybercriminals.

The US judicial agency adds that both nationals agreed to combat these security problems that motivate terrorism and cybercrime in the assembly. But the US prosecutor’s office spoke about the increase in ransomware that has been present in the US and the UK. Society’s goal is to create a way of protection against these threats that could affect the nation’s security.

The North American authority has fought ransomware crimes since the beginning of the year, and as cryptocurrencies gain power, these attacks have increased. According to reports from the judicial department, cyber-attacks with cryptocurrencies are possible because exchanges offer anonymous transactions almost untraceable. Even in November, the president of the United States, Joe Biden, believes that it would be fair to bring several countries together to talk about illegal operations with cryptos.

Ransomware gains force with the cryptocurrencies rise

Cryptocurrency cyberattacks have been gaining force because tokens like Ethereum are at the highest point in price. Countries like the UK and the US are the most affected by these cyberattacks, considering they have stood out as category crypto traders.

However, the fight against ransomware is just beginning because the meeting between countries will define what measures will be taken. At the moment, countries have tried to end cyber hackers and thus cease attacks on companies exploring cryptocurrencies.

In September, the judicial office in the United States sanctioned a crypto platform after accusing it of a source that supports ransomware. But the authorities in the UK have been behind possible exchanges that do not keep records on crypto transactions. Both countries seek to get closer to the crypto market to end those cyber-attacks that affect companies and individuals.



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