South Korea is preparing a new step in the cyber war with Pyongyang.
South Korea plans to introduce a bill that will allow tracking and freezing cryptocurrencies and other virtual assets used by North Korea, The Block reports, citing a local publication.
The goal of the initiative is to stop funding Pyongyang's nuclear and missile programs. The bill was developed as a result of 10-month consultations between various departments of South Korea.
According to administration officials, President Yoon Suk Yeol has instructed to finalize the bill so that it contains "practical measures to strengthen national security" before submitting it for consideration. The initiative is expected to complement South Korea's existing sanctions against North Korea.
One government official said the president believes the country's cybersecurity "urgently needs to be improved." The bill will also detail measures to " track and neutralize virtual coins and other cryptocurrency assets stolen by the North through hacking."
South Korea plans to introduce a bill that will allow tracking and freezing cryptocurrencies and other virtual assets used by North Korea, The Block reports, citing a local publication.
The goal of the initiative is to stop funding Pyongyang's nuclear and missile programs. The bill was developed as a result of 10-month consultations between various departments of South Korea.
According to administration officials, President Yoon Suk Yeol has instructed to finalize the bill so that it contains "practical measures to strengthen national security" before submitting it for consideration. The initiative is expected to complement South Korea's existing sanctions against North Korea.
One government official said the president believes the country's cybersecurity "urgently needs to be improved." The bill will also detail measures to " track and neutralize virtual coins and other cryptocurrency assets stolen by the North through hacking."
