US Lawmakers Concerned About ‘Serious National Security Threats’ Linked to North Korea, Crypto
U.S. Senators Elizabeth Warren, Tim Kaine, and Chris Van Hollen have raised concerns about the national security threats posed by North Korea’s use of cryptocurrency. In a letter to the Treasury Department’s Under Secretary for Terrorism and Financial Intelligence and the White House’s National Security Advisor, the lawmakers expressed worry about North Korea’s reliance on digital assets to evade sanctions and fund its illegal weapons programs. They highlighted reports that claim approximately half of North Korea’s missile program has been funded through cyberattacks and cryptocurrency theft. The senators urged the administration to provide details on its plan to stop North Korea from using cryptocurrency to support its ambitions for nuclear weapons and ballistic missiles. They concluded the letter with five questions for the Treasury Department, requesting answers by August 16.
Key Points:
- US senators express concern about North Korea’s use of cryptocurrency for evading sanctions and funding illegal weapons programs.
- Reports suggest that cyberattacks and cryptocurrency theft have funded around half of North Korea’s missile program.
- The senators call on the administration to provide a plan to address the national security threats posed by North Korea’s reliance on cryptocurrency.
- The lawmakers conclude their letter with five questions for the Treasury Department.
- Answers to the questions are requested by August 16.
Hot Take: US lawmakers are increasingly focused on the potential national security risks associated with North Korea’s use of cryptocurrency. By addressing these concerns and implementing effective measures, the Biden administration can help prevent the further funding of North Korea’s illegal weapons programs.
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