To ask the Secretary of State for Foreign, Commonwealth and Development Affairs, what assessment he has made of the potential implications for his policies of the recent $1.5 billion cryptocurrency theft by North Korea; what steps he has taken to trace the assets and prevent further illicit transactions; what steps have been discussed to strengthen security protocols; and whether this has included the imposition of sanctions on cryptocurrency and related entities linked to North Korea.
Analysis on Stance
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This written question reflects a security-driven and risk-aware stance on crypto, focused on illicit use by hostile actors, specifically North Korea. It does not question the legitimacy of crypto itself but emphasises its misuse for cybercrime and sanctions evasion, calling for asset tracing, stronger security, and possible sanctions.