White House ransomware summit calls for virtual asset crackdown, without mentioning cryptocurrency The 30-nation gabfest convened under the auspices of the US National Security Council’s Counter-Ransomware Initiative has ended with agreement that increased regulation of virtual assets is required to curb the digital coins' allure to criminals. A joint statement issued after the event's conclusion opens with anodyne …
It appears the august assembly at the White House have few solid ideas other than the usual safe practices to combat ransomeware so are using crypto regulation as a stick to try and beat the crim's with.
At the same time ransomeware makes a handy stick to beat some regulation into crypto-coins, something that was always going to happen but now has a good reason for doing so.
I suspect the only reason it was left out of the conversation is that when JB asked for a sample of crypto currency he could look at and nobody could help him understand it's not a physical thing, just a string of characters, had them print one out - he got mad and refused to acknowledge it exist.
A very good reason not to mention it is that it would have to be defined. Apart from the wrangling over a definition someone would then come up with a tweak to get round the definition.
Keep the terminology as open ended as possible. "Monetary or non-monetary payment systems" might be a good start until someone argues it's not a payment system. "Monetary or non-monetary means of transferring value"? Sometimes manglement-speak has its place.
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