U.S. Senators Suggest More Measures to Regulate and Track Cryptocurrencies in Response to Ransomware Attacks

According to Forbes, two U.S. senators, Roy Blunt and Mark Warner, suggested lawmakers should do more to regulate and track cryptocurrencies in response to previous large ransomware attacks on Colonial Pipeline and JBS SA. Blunt criticized the anonymity behind cryptocurrencies, which are often used to pay ransoms, and said we must not figure out how to regulate and track cryptocurrencies. Warner said the debate around crypto and ransomware is “just beginning” and suggested requiring companies to notify the government when they are victims of a hack as a more direct solution to curbing cyberattacks.

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