South Korea crafts bill to freeze North Korea crypto assets

The South Korean government plans to submit a bill that will enable it to track and freeze crypto assets used by North Korea for its weapons program, local media outlet Korea JonngAng Daily reported on Sept. 4.

The National Intelligence Service initially introduced the bill in Nov. 2022. Subsequently, President Yoon Suk Yeon issued orders for revisions, leading to a ten-month-long process involving collaborations with various government agencies.