Cryptocurrency has become the favored tender for ransomware groups. Because of the intricacies of blockchain technology, it is often difficult for law enforcement to trace criminals who demand cryptocurrency payments. But is there a way to regulate cryptocurrency in a way that provides fewer hiding places for criminals—but doesn’t disrupt the market? We speak with Megan Stifel, Policy Officer at the Global Cyber Alliance, who as part of the Ransomware Task Force, issued the recommendation to closely regulate cryptocurrency—but still preserve the market.

Key Takeaways:

00:08 - 01:15 Intro to the episode

01:37 - 03:00 How easy is it for threat actors to hide funds and cover their trail?

05:28 - 08:14 The scale and scope of ransomware

12:00 - 14:25 Regulation that allows the market for investors to remain but also helps locate criminal actors

15:04 - 17:06 Blacklisting: Target known accounts or try to regulate the entire market?

17:33 - 19:16 Are sanctions effective, and why is it being used? How will it work?

19:57 - 24:48 Cryptocurrency mixing services