U.S. reaffirms commitment to sanctions enforcement to limit N.K. ability to fund WMD, ballistic missile programs

By Song Sang-ho

WASHINGTON, March 21 (Yonhap) — The United States reaffirmed its commitment Friday to enforcing sanctions to restrict North Korea’s ability to bankroll its weapons of mass destruction and ballistic missile programs, as it removed sanctions against a virtual currency mixer used by a hacking group linked to the recalcitrant regime.

The Treasury Department issued a release after it removed the sanctions against Tornado Cash, which was sanctioned in 2022 because the entity had been used to launder virtual currency, including one stolen by the Lazarus Group, the North Korea-linked group.

“We are also committed to enforcing our sanctions against the DPRK to constrain the regime’s ability to fund its weapons of mass destruction and ballistic missile programs,” the department said. DPRK is short of the North’s official name, the Democratic People’s Republic of Korea.

“Treasury will continue to monitor closely any transactions that may benefit malicious cyber actors or the DPRK, and U.S. persons should exercise caution before engaging in transactions that present such risks,” it added.

It also underscored that the U.S. remains “deeply concerned about the significant state-sponsored hacking and money laundering campaign aimed at stealing, acquiring, and deploying digital assets” for North Korea and the Kim Jong-un regime.”

“Treasury remains committed to using our authorities to expose and disrupt the ability of malicious cyber actors to profit from their criminal activities through the exploitation of digital assets and the digital assets ecosystem,” it said.

In the release, Treasury Secretary Scott Bessent was quoted as saying that securing the digital asset industry from abuse by North Korea and other illicit actors is “essential to establishing U.S. leadership and ensuring that the American people can benefit from financial innovation and inclusion.”