The government in Seoul intends to submit new legislation tailored to facilitate the tracking and freezing of crypto used to fund the weapons programs of North Korea. A bill has been drafted after extended consultations between ministries with the aim to make South Korean sanctions more effective and improve the country’s cybersecurity.
South Korean Government Takes Aim at DPRK’s Stolen Digital Assets
A bill that will allow the Republic of Korea to better track and freeze assets obtained through crypto theft by the Democratic People’s Republic of Korea (DPRK) is expected to be submitted by the government in Seoul, the Korea Joongang Daily reported.
The legislation was initially announced by the South’s National Intelligence Service (NIS) in November but President Yoon Suk Yeol sent it back for revision, demanding “practical measures to bolster national security,” the publication noted, quoting sources familiar with the matter.
The draft law has been revised during months-lo
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