US President Joe Biden is said to be the first time he will publicly speak about cryptocurrencies and blockchain. According to his national security adviser Jake Sullivan, the politician will speak directly about digital currencies and their role in the US pipeline attack and other ransomware violations during the G7 debate.
Joe Biden and BTC
On Monday during press briefing at the White House, Sullivan said US officials, including Biden himself, would like to see an action plan against ransomware attacks. This could be presented during the president’s visit to the G7 summit this weekend. The National Security Adviser said the plan should be about how to respond to such attacks, how to share this type of information with other countries, and how “How to deal with the cryptocurrency challenge”.
Sullivan said it was cryptocurrencies “Underpin how these ransom transactions are carried out”, citing cyber attacks as “national security priority”For the US government – especially for “Critical infrastructure”.
Recall that in May, hackers broke into the network that was behind an important pipeline in the US, reportedly forcing the company that ran it to pay as much as $ 4.4 million in ransom.
– This has to become a priority Sullivan said, referring to how to fight ransomware attacks.
What does Biden think about cryptocurrencies?
Biden himself, as the president of the USA, has so far remained silent about cryptocurrencies and blockchain. However, he did not comment on them, neither when he was vice president during the term of President Obama, nor during his election campaign, which took place in 2020. In July last year, he only admitted that he does not own a single Bitcoin (BTC). He said this after the famous Twitter hack, which resulted in the hijacking of many VIP accounts, including his. Hackers asked Internet users to send them BTC.
Only now is the Biden administration reportedly reviewing existing cryptocurrency laws and planning to determine if new regulations are needed to protect investors from the volatility of BTC and other digital assets.
Since reaching a record high of around $ 65,000 in April, Bitcoin has dropped more than 50%, hitting $ 32,743 today. It is about 10 percent. less than yesterday and 11 percent. less than 7 days ago.
The G7 summit is scheduled to take place in the UK from 11 to 13 June. This will be Biden’s first major overseas trip as US president since his inauguration in January.