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<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/us-treasury-closes-north-korean-crypto-laundering-network" data-wpel-link="internal" rel="noopener noreferrer nofollow">US Treasury Closes North Korean Crypto Laundering Network</a><br></p>
<p style="text-align: justify">The US Treasury Department has dismantled a substantial network in the United Arab Emirates (UAE) linked to North Korea, which was allegedly involved in laundering millions of dollars via cryptocurrency transactions. This action comes as part of a broader attempt to clamp down on the regime’s illicit financial activities, which have increasingly involved digital currencies.</p>
<h2 id="who-is-affected-by-the-sanctions">Who is Affected by the Sanctions?</h2>
<p style="text-align: justify">On Tuesday, the US government announced sanctions targeting two individuals alongside a UAE-based enterprise purportedly engaged in laundering funds for North Korea. The sanctions are a significant move aimed at disrupting the financial channels used by the isolated nation.</p>
<h2 id="what-role-does-cryptocurrency-play">What Role Does Cryptocurrency Play?</h2>
<p style="text-align: justify">The Treasury Department revealed that the sanctioned individuals were associated with Green Alpine Trading LLC, a front company that converted cryptocurrency into cash, thereby aiding North Korea’s efforts to fund its missile and weapons programs. Previously, such illicit funding relied heavily on dark web marketplaces.</p>
<p style="text-align: justify">Key takeaways from this development include:</p>
<ul>
 <li>The closure of the laundering network in the UAE.</li>
 <li>Sanctions targeting specific individuals and a company for aiding North Korea.</li>
 <li>The US’s commitment to combating cybercrime linked to the regime.</li>
 <li>Increased scrutiny on cryptocurrency use for illicit purposes.</li>
</ul>
<p style="text-align: justify">The US Treasury has reiterated its dedication to dismantling criminal networks that utilize complex financial schemes to bolster North Korea’s military capabilities. As the situation unfolds, collaboration between the US and international partners remains crucial in addressing the threats posed by such cyber activities. The UAE embassy in Washington has yet to comment on this significant development.</p>
<h5><span style="font-weight:bold;font-size:16px">Continue Reading: </span> <a href="https://en.bitcoinhaber.net/us-treasury-closes-north-korean-crypto-laundering-network" data-wpel-link="internal" rel="noopener noreferrer nofollow">US Treasury Closes North Korean Crypto Laundering Network</a></h5>

US Treasury Closes North Korean Crypto Laundering Network

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