Seoul Considers Sanctions on North Korea Following US Crypto Crackdown

South Korea is contemplating a reassessment of its sanctions on North Korea in light of recent U.S. actions against the regime's cryptocurrency theft activities. Vice Foreign Minister Kim Ji-na indicated that collaboration with the U.S. is essential, especially considering the potential use of stolen cryptocurrencies to fund North Korea's nuclear and missile initiatives. These considerations come after the U.S. Treasury sanctioned eight North Koreans and two entities involved in laundering funds from cyberattacks. Notably, North Korea has reportedly stolen approximately $2.84 billion in cryptocurrency since early 2024, including a significant sum from high-profile hacks. The current sanctions are likely to be influenced by the geopolitical context and ongoing discussions between South Korea and the U.S. regarding security threats from North Korea, particularly concerning digital threats and the financing of weapons programs. This potential review of sanctions reflects the ongoing tensions and complexities of international relations with North Korea regarding its illicit activities and military advancements.

Source 🔗