Ex-CIA Analyst Claims that Cryptocurrency Laundering is a National Security Risk

The regulatory indecision on cryptocurrency regulations in the United States is mostly owed to the sentiment that the virtual assets industry includes a lot of baggage with it. This includes large scale scams and hacks that have resulted in losses in the billions.

According to a recent paper by Lawfare, the author describes how cryptocurrency laundering was a massive national security risk to the US. This discussion arose after the US Department of Justice indicted two Chinese nationals for funneling money into North Korea.

Allegations of North Korea using covert spies to attack the United States have always been in the making. With the advent of blockchain technology and cryptocurrencies, the US has made it a point to watch out for incessant cyber-attacks. The two Chinese citizens stole some of the $250 million stashes from the DPRK-affiliated Lazarus Group.

The United States Treasury Office Office of Foreign Assets Control [OFEC] sanctioned the two men of being associated with the…