EU wants to increase penalties for digital currency crime


nnIn the wake of mobile payments and the continuous development of digital money, cybercrime associated with it is becoming increasingly rampant. In order to better sanction such crimes, the European Commission decided to take measures to set up a special body to set up new regulations to increase penalties for such acts. This will be conducive to better protect the rights and interests of the people of the region in the new economic environment.n
nTranslated by: Inan
The European Commission is preparing new penalties for cybercrime involving digital money.n
In its September 20 announcement, the agency outlined its intention to introduce new directives for digital crime, highlighting the recent blackmail attacks on the European Union and the rest of the world. The plan also includes the establishment of a European network security agency to lead the work.n
The plan plans to increase penalties for those involved in cybercrime (including extortion software attacks).n
The European Commission said:n
n”The forthcoming new directive will strengthen the capacity of law enforcement authorities to deal with this crime, and all payment transactions, including transactions through virtual currency, will be included in the scope of possible information systems related to crime.”n
nIt may not be surprising that the EU leadership to make such a decision because they have already begun to take measures to impose more stringent regulation on digital money start-ups.n
In addition, the EU regulations related to digital currency will be further extended, including extortion software outside the crime. Another announcement outlines “non-cash paid fraud” within the EU, officials said the current regulations did not mention crimes involving such technology.n
The document states that the current conviction for non-cash payment fraud was enacted in 2001 and is no longer applicable to today’s realities and can not effectively address new challenges and technological developments in virtual currency and mobile payments.n

Leave a Reply

Your email address will not be published. Required fields are marked *