In a continuing attempt to remove an unlawful financial activity, legislation of Sen.Warren will investigate to give a ‘clear picture’ of ransomware assaults. 

 In a new development, Senator<a href="https://www.cryptoknowmics.com/news/elizabeth-warren-calls-for-crypto-regulation-cites-environmental-concerns/"> Elizabeth Warren</a> and Representative Deborah Ross <a href="https://www.warren.senate.gov/newsroom/press-releases/warren-and-ross-introduce-bill-to-require-disclosures-of-ransomware-payments" target="_blank" rel="nofollow noopener">sponsored </a>the Ransom Disclosure Act which requires victims of a ransomware attack to submit information regarding ransom payments to the Department of Homeland Security (DHS). 
<h2>Sen. Warren &amp; Rep. Ross Investigate the Role of Crypto in Ransomware</h2>
The law, which was filed on Tuesday, aims to collect vital data on fiat and cryptocurrency transfers to safeguard investors from criminality.

In a continuing attempt to remove an unlawful financial activity, Warren’s legislation seeks to give a ‘clear picture’ of ransomware assaults. 
“My bill with Congresswoman Ross would set disclosure requirements when ransoms are paid and allow us to learn how much money cybercriminals are siphoning from American entities to finance criminal enterprises — and help us go after them.”
In addition, the law would also provide funding for study into the relationship between cryptocurrencies and their participation in <a href="https://www.cryptoknowmics.com/news/the-us-is-eyeing-sanctions-on-crypto-payments-to-fight-ransomware-attacks/">ransomware attacks</a>.

The Secretary of Homeland Security will oversee this project. The study’s findings will be used to generate recommendations for strengthening the country’s cybersecurity. 
<h2>SEC Urges Congress to “Clarify The Status Of Digital Assets.."</h2>
Rep. Ross implied that US investors are not yet compelled to record ransomware payments, which she believes is critical to combating ransomware assaults. 
She went on to say that the new legislation "would impose crucial reporting requirements, such as the amount of ransom requested and paid, as well as the sort of money utilized."
One of the bill's provisions is that victims in the United States reveal ransom payments within 48 hours using a website established up by the DHS.

Meanwhile, the Securities and Exchange Commission has issued a report urging Congress to "clarify the status of digital assets to make apparent when it is a security," as federal officials continue to offer measures to regulate the crypto market.

Furthermore, Representative Patrick McHenry <a href="https://republicans-financialservices.house.gov/uploadedfiles/tsh_xml_signed.pdf" target="_blank" rel="nofollow noopener">proposed </a>a change to the Securities Act of 1933 that would allow projects to issue cryptocurrency tokens without registering with regulators for up to three years.

Sen. Warren Implements Law to Investigate the Role of Crypto in Ransomware

In a continuing attempt to remove an unlawful financial activity, legislation of Sen.Warren investigate to give a ‘clear picture’ of ransomware assaults.

Kavya Barua is a voracious learner who is fascinated by crypto and Fintech advancements. Graduated from Janki Devi Memorial College's B.A (Hons) English program at the University of Delhi. She aspires to be a successful professional, having a keen interest in learning and achieving results.

Sen. Warren Implements Law to Investigate the Role of Crypto in Ransomware

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