New penalties for cyber crimes are to be proposed by The European Union including cryptocurrencies. The press released by the European Union’s executive arm on 20th September 2017, introduced a new directives on digital crimes focusing on recent ransom-ware attacks in different places.
The proposal made by the commission states:
“The proposed directive will strengthen the ability of law enforcement authorities to tackle this form of crime by expanding the scope of the offences related to information systems to all payment transactions, including transactions through virtual currencies.”
In a seperate release by EU, they also stated about the non-cash payment fraud, officials mentioned that existing status of law aren’t equipped for crimes involving the tech. So the introduction of this new penalties is expected to be fruitful.