Japan to request G7 action against North Korea crypto theft
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Shigeru Ishiba, the prime minister of Japan, will urge the G7 to confront North Korea’s crypto theft activities. The request comes amid concerns about illicit funds supporting weapons development programs. North Korea allegedly uses stolen virtual assets to finance weapons of mass destruction development. The summit will explore international cooperation to eliminate these financial channels. Japan pushes G7 cooperation against North Korea crypto funding Prime Minister Shigeru Ishiba will denounce North Korea’s cybercrime cryptocurrency theft operations during the G7 summit in Canada this month, a Kyodo news report says. The three-day summit starting Sunday will discuss global cooperation to counter illicit virtual asset activities that are reportedly financing weapons development programs. Japanese government reports indicate that Ishiba’s proposal is in response to increasing fears over North Korea employing hacked cryptocurrency to fund weapons of mass destruction research. The call for enhanced global cooperation is intended to sever economic lifelines funding Pyongyang’s military programs. Japan’s move comes at the same time North Korea is heightening its military cooperation with Russia amid the war in Ukraine. Japan wishes to observe increased collaboration with Ukrainian allies in Europe and define security issues raised by North Korean behavior in the region. The G7 partnership framework would be directed towards the tracking and prevention of North Korean actors’ cryptocurrency theft activities. Current global efforts are not yet sufficiently harmonized to address sophisticated cyber activities against virtual asset exchanges and platforms. Japan’s proposal builds on existing concerns among G7 members about cryptocurrency security and the need for coordinated responses to state-sponsored cyber theft. The summit discussions will discuss mechanisms for information sharing and joint enforcement actions against illicit cryptocurrency activities. G7 plans task force for cross-border e-commerce tax reform As merchants flood member nation marketplaces with low-cost items, the G7 countries want to form a task…
Filed under: News - @ June 12, 2025 10:25 am