“It is inefficient and short-sighted to prohibit illegal use of cryptocurrencies by creating interstate unions.” This is how Yaroslav Bogdanov, Chairman of  Fund for Protection of Investors’ Rights in Foreign States, commented on the new US initiative to combat cybercrime.

On Monday, October 4, US President Joe Biden announced an upcoming online meeting with representatives of 30 countries. The topics of the discussions will be the issues of illegal circulation of cryptocurrencies and the fight against cybercrime. The head of the White House did not go into details of the organization of the future meeting. Just as he did not specify which specific countries United States intend to involve in cooperation in the field of cybersecurity.

Yaroslav Bogdanov, Chairman of the Fund for Protection of Investors’ Rights in Foreign States, believes that creation of interstate unions is not the most reasonable approach to ensuring international information security and combating crime in the crypto industry.

- Firstly, cryptocurrencies themselves appeared as a response to the nontransparent financial policy of national states. Secondly, and most importantly, it is necessary to combine the competencies of different countries to develop a legal framework and regulations for the crypto market and blockchain. By the way, at the same time, it is necessary to stop illegal persecution of IT specialists, indicating transparent and legal rules for working on crypto exchanges and a degree of responsibility of participants. GDA has its own unique developments on the regulation of crypto markets and transactions with cryptocurrencies, we have created a synergy between specialists in international law, financiers, economists and cybersecurity specialists.

GDA is a Global Digital Alliance, an international digital alliance, in which all interested parties were previously called upon by Yaroslav Bogdanov to participate. This independent non-profit organization offers a fundamentally new approach, where the latest blockchain technologies will be applied on the terms of transparency, equality and strict compliance with international law.