In a bid to bolster the digital asset sector's defenses against cyber threats, the US Department of the Treasury has announced that it will be sharing timely and actionable cybersecurity information with eligible crypto businesses. This move aims to help these companies protect themselves against attacks, which have been a persistent issue in the industry. The Treasury's Office of Cybersecurity and Critical Infrastructure Protection will provide the same level of cybersecurity information to crypto firms as it does to traditional financial institutions.
Interested companies can reach out to the office to sign up for this free service. The decision follows a recommendation from the President's Working Group on Digital Asset Markets, which emphasized the importance of information-sharing in mitigating cyber-attack risks. According to Luke Pettit, assistant secretary for financial institutions, this initiative will help promote a more secure digital asset ecosystem.
The crypto sector has long been vulnerable to malicious hacks, with significant funds and data being stolen every year. Recent incidents, including a $280 million heist from decentralized platform Drift, have highlighted the need for enhanced security measures. By providing crypto companies with access to high-quality cybersecurity information, the Treasury Department is taking a step towards addressing the concerns of US lawmakers, who have been weighing legislation to regulate the crypto industry.