Treasury to issue new cryptocurrency sanctions after ransomware attacks

Treasury to issue new cryptocurrency sanctions after ransomware attacks


The Biden administration is preparing to issue a series of actions, including sanctions, to make it more difficult for hackers to profit off of ransomware attacks through the use of digital currency, as first reported by the Wall Street Journalon Friday.

According to the Journal, the Treasury Department plans to impose these new sanctions as soon as next week. The sanctions would reportedly target specific traders and cryptocurrency exchanges, in the hope of deterring exchanges from processing these transactions when they’re made. The department will also issue new guidance for businesses regarding the risks they take on by complying with ransomware payment requests.

The Treasury Department did not immediately respond to a request for…

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