TRM Labs Says States Are Using Crypto to Evade Sanctions

TRM Labs warned that cryptocurrencies are increasingly being used as a geopolitical tool, with states experimenting across borders to bypass sanctions, expand industrial mining, and conduct hacking operations.

The firm has linked thefts attributed to the DPRK to funding for weapons, highlighting how illicit crypto activity can finance state objectives.

TRM also noted that regulators in the US, Europe, Japan and Singapore have employed blockchain analytics to trace and freeze illicit assets tied to these activities.

Key Topics

Crypto, Japan, Sanctions, Nation-state, Blockchain Analytics, Dprk, Regulation