US President Joe Biden to Discuss Crypto Regulations at G-7

Joe Biden, the current President of the United States, is planning on discussing cryptocurrencies at the upcoming G-7 meeting.
The latest statement from Biden’s national security adviser, Jake Sullivan, indicates that the US President is planning to raise the issues related to the role of cryptocurrencies in ransomware at G-7.

During the recent press briefing at the White House, Sullivan said that it is important to deal with the cryptocurrency challenge, which lies at the core of how these ransomware attacks are carried out.

“Ransomware is a national security priority,” he noted. Sullivan added that the US officials are planning to discuss problems related to cryptocurrencies during Biden’s G-7 visit. The national security adviser mentioned that a plan is required to share information with other democracies in order to overcome the cryptocurrency challenges.

The latest comments from Sullivan came after the US Department of Justice (DOJ) seized nearly 63.7 Bitcoin worth more than $2.3 million. The Colonial Pipeline paid the massive cryptocurrency ransom to a group known as DarkSide.