Sanction and Stop Ransomware Act: New Cybersecurity Standards and Cryptocurrency Regulations
This Act introduces mandatory cybersecurity standards for critical infrastructure entities. It increases oversight of cryptocurrency exchanges to reduce the anonymity of users suspected of ransomware activity. It also establishes a ransomware operation reporting system and an Information System and Network Security Fund.
Key points
Introduction of mandatory cybersecurity standards for owners and operators of critical infrastructure.
Requirement to develop regulations for cryptocurrency exchanges to reduce anonymity regarding ransomware.
Establishment of the Information System and Network Security Fund to support eligible entities.
Requirement for federal agencies and covered entities to report ransomware operations within 24 hours.
Expired
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