President Biden Is Building a Coalition of 30 Countries To Address Cyber Crime, Including Illicit Use of Cryptocurrencies

President Joe Biden says the United States is creating a union of nations to combat digital crimes, including the malicious use of cryptocurrencies.

According to a statement released by the White House, Biden says the US will join forces with 30 other countries, including allies from the North Atlantic Treaty Organization (NATO) and Group of Seven (G7) nations, to counteract bad actors in the tech and digital asset spaces.

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

We are building a coalition of nations to advocate for and invest in trusted 5G technology and to better secure our supply chains.

And, we are bringing the full strength of our capabilities to disrupt malicious cyber activity, including managing both the risks and opportunities of emerging technologies like quantum computing and artificial intelligence.”

The President also urges all Americans and US companies to take the necessary steps to avoid being victims of online crimes.

“The Federal government needs the partnership of every American and every American company in these efforts.

We must lock our digital doors  – by encrypting our data and using multifactor authentication, for example – and we must build technology securely by design, enabling consumers to understand the risks in the technologies they buy.”

The announcement comes on the heels of the White House issuing an executive order in May and a memorandum in July to protect critical US infrastructure from cyber attacks.

 

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Quardia/Alexander_Evgenyevich