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U.S. to join 30 countries in fight against illegal use of cryptocurrencies

President Joe Biden said an online meeting will be held in October to fight cybercrime

The U.S. will bring 30 countries together to increase cooperation in fighting cybercrime and cracking down on the illegal use of cryptocurrency, President Joe Biden said.

“We will bring 30 countries together to enhance cooperation in the fight against cybercrime, improve law enforcement cooperation, and crack down on the illegal use of cryptocurrency,” Biden said in a statement released by the White House last Friday.

The U.S. president also said that a coalition of countries will work to protect and invest in 5G technology and provide more supply chain security. The statement did not specify which specific countries were invited to the event or what format it would take.

Earlier, Federal Reserve (Fed) Chairman Jerome Powell said that the U.S. does not plan to ban cryptocurrencies, but consider it necessary to tighten controls on stablcoins. Also Secretary of the Treasury Janet Yellen said that the Internal Revenue Service (IRS) is preparing a detailed regulation of cryptocurrencies.

Eddie Elzer

Crypto Social Media Global Influencer
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