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The Biden administration has implemented stringent export restrictions on AI chips and technologies, aiming to safeguard U.S. national security and maintain technological dominance ahead of Donald Trump's inauguration. The new rules limit advanced GPU exports to non-allied nations and introduce licensing requirements for over 120 countries, while exempting allies like the UK and Japan. Critics, including Nvidia, argue that these measures could stifle innovation and competitiveness in the tech sector.
Bitcoin experienced a significant dip, falling over 12% to $92,762, amid concerns over North Korean hacking activities linked to the decentralized exchange Hyperliquid. Despite blockchain security expert Taylor Monahan's warnings, Hyperliquid stated there was no threat, yet the exchange faced nearly $113 million in outflows and its native token, HYPE, dropped nearly 20%. The U.S. Treasury continues to target North Korea's digital asset money laundering networks, emphasizing the regime's use of complex schemes to fund its weapons programs.
The U.S. Treasury has sanctioned two individuals and a UAE-based company for laundering millions in illicit funds for North Korea, which continues to exploit digital assets to support its WMD and missile programs. Key figure Sim Hyon Sop, linked to North Korean financial institutions, orchestrated these schemes, while recent cybercrimes by North Korean hackers have further destabilized the crypto industry.
The U.S. Treasury has sanctioned two individuals, Lu Huaying and Zhang Jian, for their involvement in a North Korean crypto money laundering network that funds the regime's weapons programs. The sanctions freeze their assets and prohibit American businesses from engaging with them. Additionally, the FBI warns that North Korean cybercriminals are increasingly targeting cryptocurrency firms, employing sophisticated social engineering tactics to steal digital assets.
The US Treasury, in collaboration with the UAE, has sanctioned two Chinese nationals and a UAE-based company for their roles in facilitating North Korean digital asset laundering. Lu Huaying and Zhang Jian allegedly converted cryptocurrency to fiat for goods destined for North Korea, while Green Alpine Trading is accused of being a front for money laundering operations linked to North Korean financial activities. North Korean groups reportedly stole between $600 million and $3 billion in cryptocurrency from 2017 to 2023 through various illicit methods.
Zhang Jian
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
US imposes new AI chip export restrictions ahead of Trump administration
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