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36-nation ransomware summit agrees to act on cryptocurrency

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36-nation ransomware summit agrees to act on cryptocurrency

The White Home’s second Worldwide Counter Ransomware Initiative summit has concluded, and this 12 months the 36-nation group has made clear it intends to crack down on how cryptocurrencies are used to finance ransomware operations.

Final 12 months’s summit ended with far fewer actionable, concrete steps on this course, concluding with a joint assertion indicating “countering illicit finance” was a precedence with out stating in particular phrases that the Countering Ransomware Initiative (CRI) was targeted on cryptocurrencies. The tone is extra direct and targeted this time round.

The White Home, which hosted the summit, stated the CRI group deliberate to “take joint steps to cease ransomware actors from with the ability to use the cryptocurrency ecosystem.” The CRI stated sharing details about recognized crypto wallets used for laundering ransom funds was one a part of the brand new technique.

The CRI group stated its anti-crypto work will concentrate on “the event and implementation” requirements to sort out “cash laundering” and the “financing of terrorism”. This consists of the ‘know your buyer’ guidelines to mitigate misuse of crypto by cyber criminals.”

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Different new commitments made in the course of the summit embrace plans to carry one other workshop on enhancing blockchain tracing and analytics to counter cash laundering, creating an lively info sharing platform between personal and public entities, writing new worldwide requirements for stopping and responding to ransomware, and enhancing worldwide company cooperation “to strengthen resilience … and legislation enforcement capability to fight ransomware [in] different nations.” 

Greater than commitments

New commitments are nice, however they’re nonetheless plans versus concrete motion being taken by the CRI. These have been additionally detailed within the joint assertion, with the group saying it deliberate to do quite a few issues between now and the following summit.

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Included in that checklist is the institution of an Worldwide Counter Ransomware Activity Power (ICRTF) that can initially be chaired by Australia and work “to coordinate resilience, disruption, and counter illicit finance actions.” 

The Lithuanian Regional Cyber Protection Heart (RCDC) will even start enjoying host to a brand new “fusion cell” that will probably be used to check a scale model of the ICRTF and operationalize ransomware risk data. The RCDC will publish semiannual reviews on ransomware developments and function an info sharing hub “with a large spectrum of stakeholders.”

Moreover, CRI members will work within the coming 12 months to construct a ransomware investigator’s toolkit that “will enable CRI companions to profit” from prior incidents exterior their borders, are committing to publishing joint advisories, will work to construct “lively and enduring” personal/public sector ransomware engagement, agree to carry biannual counter ransomware workouts and assist construct a single ransomware framework used to coordinate precedence targets and relay info to legislation enforcement teams to take motion.

The Biden administration stated that countering ransomware is a core a part of its worldwide cybersecurity agenda, and a scourge on companies world wide. Whereas the US has taken steps to combat ransomware, the administration stated within the joint assertion “it’s a problem that is aware of no borders.” ®

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Experts celebrate promising new breed of cryptocurrency: 'Not only promises efficiency …'

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Experts celebrate promising new breed of cryptocurrency: 'Not only promises efficiency …'

An up-and-coming player in the world of cryptocurrency is looking to revolutionize the industry through its unique processes that highlight sustainability.

According to Be3, cryptocurrency XRP, developed by Ripple Labs, could have a “transformative impact on both finance and environmental sustainability” thanks to its unique consensus mechanism that does not require mining and uses a negligible amount of energy even as it scales.

It generates a minuscule amount of pollutants per transaction while producing 1,110 pounds of electronic waste and impacting just over 8 cubic miles of natural resources.

This approach separates XRP from its contemporaries, which often rely on the notoriously power-hungry proof-of-work systems and hulking mining centers that can destabilize the grid.

Statistics provided by TRG Datacenters show that XRP is the second-most eco-friendly cryptocurrency behind IOTA, consuming just 0.0079 kilowatt-hours per transaction. Comparatively, bitcoin ranks last at a staggering 707 KWh per transaction.

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Furthermore, the cryptocurrency became the first major global blockchain to achieve carbon net zero by purchasing enough renewable energy to offset its minimal energy requirements, per the XRP Ledger.

Be3 also noted other features that make XRP an attractive option for institutions focused on environmental responsibility, as it takes just three to five seconds to settle at fractions of a cent per transaction.

It’s a welcome addition to a sector that desperately needs more sustainable options. A study by the International Monetary Fund found that crypto mines, in conjunction with artificial intelligence data centers, accounted for 2% of global electricity demand and 1% of carbon dioxide pollution in 2022.

The United Nations found that the bitcoin mining network used 173.42 terawatt-hours of electricity between 2020 and 2021, resulting in a carbon footprint equivalent to burning 84 billion pounds of coal. 

Coal and natural gas also supplied 66% of the energy for mining operations during this period, polluting the planet with planet-warming gases.

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Luckily, the sector has made significant strides in recent times in an effort to become more eco-friendly. 

Alephium, which utilizes a proof-of-work blockchain, has partnered with Gigatons to implement a proof-of-less-work consensus that is significantly more energy efficient. 

Meanwhile, Ethereum has transitioned to a proof-of-stake system that has cut its energy consumption by nearly 100%.

“In a world increasingly attentive to environmental impact, XRP’s innovative technology not only promises efficiency but also a greener future,” Be3 wrote.

Join our free newsletter for good news and useful tips, and don’t miss this cool list of easy ways to help yourself while helping the planet.

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ZIUM Launches to Revolutionize Instagram and Cryptocurrency Solutions

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ZIUM Launches to Revolutionize Instagram and Cryptocurrency Solutions

Zagreb, Croatia–(Newsfile Corp. – January 12, 2025) – ZIUM, a cutting-edge agency founded to tackle some of the most pressing challenges in social media and digital marketing, is now officially open for business. Specializing in Instagram username claims, account unbans, and cryptocurrency marketing, ZIUM has positioned itself as a trusted partner for individuals and businesses seeking innovative solutions in the digital age.

The agency operates at the intersection of technology, social media, and blockchain marketing, empowering clients to unlock their full potential online. With a dedicated team of experts and a results-driven approach, ZIUM is redefining the way people navigate the ever-changing online landscape.


ZIUM

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A New Era of Digital Problem Solving
ZIUM’s services address real-world challenges in today’s digital ecosystem. Instagram, one of the largest and most influential social platforms, has become a critical tool for personal branding, business promotion, and community engagement. However, issues such as unavailable usernames or unfair account suspensions can hinder growth and cause frustration. ZIUM steps in to provide solutions that are fast, efficient, and tailored to each client’s needs.

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Additionally, ZIUM excels in cryptocurrency marketing, offering projects and startups a strategic edge in the fast-paced blockchain industry. By combining deep knowledge of crypto trends with cutting-edge marketing strategies, the agency helps blockchain projects stand out in an increasingly crowded market.

Core Services Offered by ZIUM

  1. Instagram Username Claims
    In the crowded social media space, having the perfect Instagram username can make all the difference. Whether it’s for a brand, influencer, or business, ZIUM specializes in acquiring sought-after usernames to align with clients’ goals and identities. The agency handles the process from start to finish, ensuring a smooth and hassle-free experience.

  2. Instagram Account Unbans
    Account suspensions on Instagram can be devastating, especially for businesses and influencers relying on the platform for engagement and revenue. ZIUM offers expert account recovery services, helping clients navigate Instagram’s policies to regain access to their accounts quickly and effectively.

  3. Cryptocurrency Marketing
    The cryptocurrency space is highly competitive, and visibility is key. ZIUM provides end-to-end marketing strategies tailored to blockchain projects, ensuring they reach the right audience. From brand development to targeted campaigns, ZIUM helps crypto ventures grow and thrive in an ever-evolving market.

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Donald Trump Embraces Meme Coins—A Presidential First

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Donald Trump Embraces Meme Coins—A Presidential First

Donald Trump is making news once more, but this time it’s not for political reasons; it’s about cryptocurrency. As he prepares to return as the 47th President of the United States, Trump will become the first sitting president to own meme currencies, a decision that has stirred both enthusiasm and skepticism in the crypto community.

Trump: A Significant Crypto Portfolio

Recent sources claim that Trump’s crypto wallet consists largely of meme coins and is valued roughly $8 million. Among the assets are $1.5 million in a meme currency with Trump-themed design and $5.5 million in TROG tokens.

In addition, he has about 1.3 billion GUA coins, which amounts to nearly $400,000, and $167,000 in TRUMPIUS tokens. This is a first of its kind, where Trump becomes an oddity in the world of politics and cryptocurrency, considering his earlier reluctance towards digital assets.

From Skepticism To Support

Trump’s journey into the crypto world is notable. He had been a strong critic of Bitcoin and other cryptocurrencies, calling them scams. But that all changed in 2024 when he started publicly endorsing Bitcoin and speaking out for the right to own it. That’s a broader trend among politicians, who are increasingly recognizing the potential of cryptocurrencies and their growing popularity among voters.

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Trump’s financial success in the digital sphere was also aided by his venture into non-fungible tokens (NFTs) on Ethereum. Trump reportedly made a good living from these endeavors, and he currently owns roughly 496.77 ETH, which is worth about $1.6 million.

BTC is currently trading at $94,144. Chart: TradingView

Implications For Regulation

Many people are eager to see how Trump’s administration will regulate cryptocurrencies now that he is back in office. A possible change toward a more advantageous regulatory climate for digital assets is hinted at by the nomination of important individuals like David Sacks as “Crypto Czar” and Paul Atkins as SEC chair. This could result in more precise rules for investors and businesses involved in the cryptocurrency industry.

Trump

Donald Trump. Image: Ronda Churchill/Reuters

The policies by Trump are already changing market dynamics as everybody is anxiously awaiting them. During this time when Bitcoin hit a record high of $108k, while meme coins surged, analysts still feel that Trump could make the year 2025 a major turning point in cryptocurrencies.

Meme Coin Boom

The rise of Trump-owned meme coins is indicative of a broader cultural shift among younger investors who are fed up with established financial institutions. This combination of the political influence of Trump and the speculative nature of meme coins puts a scenario under which political events could significantly affect cryptocurrency markets. Thus, while the investors go about this, they are not ignorant of the volatility that is usually associated with meme coins.

Featured image from Fortanix, chart from TradingView

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