The administration is also planning on creating a committee that strengthens South Korea's defenses against hacking attempts.
The government of South Korea is reportedly planning to submit a bill that will track and freeze North Korean crypto and virtual assets that are used to fund its capital Pyongyang's illicit weapons program.confirmed
on Aug. 3 that the bill is in the works. A government official who remained anonymous reportedly said that the bill will reflect the country's president's beliefs that its cybersecurity framework needs to be repaired, the report said. Another unnamed source who works in the administration said that the bill's latest version contains ways to"track and neutralize" crypto and other virtual assets stolen by North Korea through hacks and exploits. According to the report, this was not included in the initial bill proposed by the National Intelligence Service back in November 2022.
Apart from the new cybersecurity bill, the administration is also reportedly planning on creating a national cybersecurity committee under the direct control of the president. The committee enforces various measures to enhance the country's defenses against hacking attempts by foreign entities. According to the report, this committee will be headed by the National Security Office’s chief and will include the NIS director.
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