Posted 11 months ago | by Catoshi Nakamoto

According to a report by CNN, the White House is in the process of finalizing its strategy for handling ransomware pertaining to crypto digital assets.

AdobeStock 170700208 Report: U.S. Biden Administration Will Use Five Eyes Intelligence Alliance Dealing With Ransomware

The U.S. plan involves working with countries that are a part of the Five Eyes surveillance group, members consisting of — Australia, Canada, New Zealand, the United Kingdom, and the United States.

The U.S. wants to use this partnership alliance to make foreign cryptocurrency exchanges report suspicious transactions to governments according to Megan Stifel, a co-chair of the Ransomware Task Force, who serves as the global policy officer for the nonprofit organization Global Cyber Alliance.

Stifel said the Five Eyes nations that have a pre-existing intelligence-sharing partnership have concurrently been reviewing their strategies for countering ransomware attacks and will likely be releasing them at approximately the same time to “send a strong global message.”  One key focus that the Biden administration has been driving is to urge cryptocurrency exchanges to inform governments of suspicious transactions so that officials can better track the payments and attempt to block them.

The National Security Council plans to prohibit U.S. companies from paying crypto ransoms while making it mandatory for all businesses to put employees through special training and ultimately increase security around corporations.

For months, after alleged ransomware attacks, on the colonial pipeline and JBS meat factory and now Kaysea, the National Security Council has been studying how to stop the current attacks and prevent future critical infrastructure damage. The NSC discussions have focused on hardening private companies’ cybersecurity to stop ransomware intrusions.

As per the CNN report, National Security Council officials have focused their roadmap to deal with ransomware around a report written by the Ransomware Task Force’s , which consists of dozens of cybersecurity experts. According to that report, there are 50 recommendations for addressing the attacks, including that the government may soon require corporations to report ransom payments. Further, the report states that ransomware should be formally designated as a “national security threat.”

White House press secretary Jen Psaki announced on Tuesday that “key leaders” from the State Department, Justice Department, Department of Homeland Security, and other members of the intelligence community will meet with President Joe Biden on Wednesday to discuss ransomware and “our overall strategic efforts to counter it.”

U.S. leadership including the House, Senate, and Congress hosted four total meetings last month on the topic of cryptocurrency and digital assets with legislators focused on ransomware at least at one of those hearings as Bitboy Crypto previously reported.

Ironically the governments’ best way to counter disruption to supply chains like Kaseya, and JBS a meat factory, is to utilize the blockchain for supply chain management solutions. May this author suggests using VeChain, or DOCK, blockchain is a much more secure system than your centralized databases. Especially with its trustless nature, it can easily track products on a ledger that is immutable, which can’t be changed without consensus from enough nodes on the network. In order to attack the business in this case a hacker would have to hack all blockchain nodes on the network, a seemingly impossible task if the nodes are spread out and truly decentralized.

Bitcoin is currently trading at [FIAT: $34,818.71‘] UP 2.0% in the last 24 hours according to Coingecko at the time of this report.

About Catoshi Nakamoto

c6ea0c3794492f30883e516d39b2597a?s=90&d=blank&r=g Report: U.S. Biden Administration Will Use Five Eyes Intelligence Alliance Dealing With RansomwareActivist/Journalist, former writer - We Are Change, The Mind Unleashed, Coinivore, others. Currently writing for - Activist Post and Bitboy Crypto. Not Right or Left Apolitical. I Care About Truths (CATS.) Cryptocurrency enthusiast, I mined and lost 100+ BTC in 2010-2011. I work with - Bitboy, SoMee, CEEK, Presearch, and W3BT aka FMW Media Group. Friend of mostly everyone who isn't a dick. Just A Cool Cat.