The US Treasury Department's Office of Foreign Assets Control (OFAC) sanctioned several addresses linked to North Korean cybercrime on May 23.
OFAC has sanctioned six crypto addresses belonging to Kim Sang Man, a North Korean national, who engaged in cyber activities and IT job fraud in order to generate revenue for weapons and government programs. of North Korea.
The sanctioned list includes two Bitcoin (BTC) addresses, two Ethereum (ETH) addresses, one Tether (USDT) address, and one USDC address.
OFAC also sanctioned four organizations linked to Kim and the scheme, including the Chinyong Information Technology Cooperation Company.
OFAC said Kim received more than $2 million in cryptocurrency from IT employees as of 2021 but did not specify whether this was all of the funds involved.
Binance has announced that it has helped the US Treasury seize $4.4 million related to the individuals involved by freezing the accounts.
Binance said members of the company acted in compliance with the orders given. It noted that blockchain ledgers provide “a tremendous degree of transparency,” allowing employees to provide relevant information to law enforcement.
OFAC did not mention Binance support in today's announcement.
In previous reports, Binance alleged that it had frozen over $5 million related to North Korean crypto crime, which was linked to the $600 million attack on the Axie Infinity and Ronin projects. Network.
Binance is emphasizing its commitment to law enforcement and compliance amid complaints from US regulators as well as the mainstream media.
In a surprising turn of events, China Central Television (CCTV) announced on May 24 that cryptocurrencies are being accepted in Hong Kong. The news segment showcases a Bitcoin ATM and highlights the option to buy the digital currency, as well as mentions the growing popularity of NFTs.
The Binance CEO described the announcement as a significant development that will have a significant impact on the market. In a tweet , Changpeng Zhao stated, “CCTV just aired about cryptocurrencies. This is a big broblem. The Chinese community is buzzing. Historically, news like this has led to rallies.”
Starting June 1, Hong Kong will allow professional investors to trade cryptocurrencies, marking an important milestone for the region. The move contributes to softening the mainland's stance on cryptocurrencies and paves the way for a new inflow of capital into the crypto market.
Just two days ago, Hong Kong's Securities and Futures Commission (SFC) announced the completion of a public consultation process on a proposed regulatory framework for virtual asset trading platform operators. be licenced. The majority of public opinion expressed support for the plan to allow individual investors to participate in the cryptocurrency market. However, the SFC emphasized that no crypto companies are allowed to offer services to individual investors after June 1.
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Annie
Bitcoin Magazine
