Regulators and industry join to fight ransomware

With an increasing number of people forced to work from their homes, data suggests that ransomware attacks are at their all-time highest with the frequency of these incidents increasing by 45% over the course of April 2021 alone. Not only that, some are adamant that the rise in ransomware attacks is closely connected to the meteoric growth of the crypto sector.

Also, in the midst of the recent positive crypto market activity, news of the United States regulators aggressively studying the link between crypto and ransomware seems to be dampening the mood somewhat, especially since various government agencies are seemingly seeing crypto ransomware as a big issue requiring stringent action.

As digital asset adoption continues to spread across the U.S., it appears as though lawmakers are looking to better understand how these offerings can be used for a slew of legal as well as illegal purposes. For example, the Ransom Disclosure Act, which was introduced by Senator Elizabeth Warren and Representative Deborah Ross on Oct. 5, requires victims of ransomware attacks

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