Our Privacy, Cyber & Data Strategy Team highlights some of the similarities and differences between Colorado's new consumer privacy law and its older siblings in California and Virginia.
anonymity of crypto, we would not have this intense situation now. i know how popular it is. there s a rave going down in miami this weekend for people wanting crypto. but crypto s popularity is its anonymity. it seems as if why people like is they get to hide where their money came from. it sounds like an illegal enterprise to me. chuck, i ve got a lot of questions about crypto. there s good things coming out of the technology, but we re seeing some of the dark underbelly. that s why i m focusing more on transparency. the truth is, there are ways we can break through some of these systems. if we don t have if a company is paying, if there s not some transparency so that payment, the bad guys will simply find another way to hide it. this is an area where frankly, again, our company has been behind the international norms. we got better on bipartisan legislation last year, but this debate about crypto and ransomware is just starting.
system is allowed to counterattack, to take any forceful action against moscow and its ransomware allies in this case. here at home it s going to be a lot like our covid response. we have to use public and private. clearly what we have to do is do what we did after 9/11, build a good defense system. we upgraded our air traffic control systems to keep track of airplanes that might be hijacked. we want to know anybody who is off course. in this case we have to have business work together to put the dots on the screen, like an air traffic controller s screen. where is ransomware where people are trying to get to our companies, trying to hold us up. you have to report it in realtime. in many ways that s like a police case where you have a kidnapping in progress and you have to know when and where it s happening and you have to go to police. it s a combination of warning the russians i keep looking at that guy putin, chuck. i d look him in the eyes and he says nonsense. i say we can t rea
internal tracking of investigations and prosecutions. the criminal groups that fuel many of these attacks, including some of the recent ransomware attacks we ve seen, come from groups that have links to russia. we cannot give any quarter and no country should be harboring criminal actors of any type. how will the u.s. respond? back in 2016 after russian interference in the election. why haven t we sent a message yet to putin? we re sending a message. we have the capacity to do it, and the message he ll know it. he ll know it. it will be at the time of our choosing and under the circumstances that have the greatest impact. now ahead of a june 16th summit with putin, the biden administration is considering offensive cyber operations against hackers inside of russia. mr. president, will you retaliate against russia for this latest ransomware attack? we re looking closely at the issue. the president s message will be responsible states do not harbor ransomware crimina
out of russia, because they re not just attacking us, they shut down the irish health care system. we need international norms. third, we need to have more transparency. there s going to be a debate about whether these companies should pay ransomware. there ought to be more transparency if a company does pay so we can go after the bad guys. you pre answered a couple questions i have. i want to pick up on the last point. should we make it illegal to pay ransoms? many people think this is a simple solution, right? you don t pay the ransoms, the attacks will stop coming. well, i think that s a debate worth halving. i m not sure what the answer is at this point. the alternative, if you shut down a system and in the case of colonial pipeline, we saw, even after they paid the ransom, it took five days. but what we should make sure, as we have that debate, let s make sure if companies do pay, there s transparency to those payments.