According to local media, the bill was initiated by the South Korean National Intelligence Service (NIS). Pyongyang’s rise in cryptocurrency crime revenues coincides with a surge in military testing, the agency said.
The bill contains “practical measures to strengthen the national security of the country”, strengthen the existing sanctions of the South against the North, as well as methods to “track and neutralize cryptocurrency assets stolen by North Korean hackers.”
South Korea intends to monitor all suspicious transactions that indicate their involvement in hackers from North Korea. To this end, Seoul law enforcement has announced plans to expand cooperation with major crypto exchanges and industry experts.
Earlier, the US Federal Bureau of Investigation reported that in the course of conducting operational activities, agency employees managed to identify the potential relationship of six bitcoin wallets with North Korea and Lazarus Group hackers.
Source: Bits
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