South Korea Plans to Submit Bill to Freeze North Korea’s Crypto Assets: Report

The South Korean government is reportedly preparing to introduce legislation aimed at tracking and freezing North Korean cryptocurrency and virtual assets used to finance illicit weapons programs.

According to sources cited by a local media outlet, multiple anonymous government officials confirmed on August 3 that the bill is currently being developed. One official noted that the proposed legislation aligns with the president’s view that the nation’s cybersecurity framework requires significant improvement.