US Stablecoins Threaten China; G7 Urged to Confront Lazarus Group

Recent reports warn that the proliferation of US-based stablecoins poses a significant threat to China’s financial system. These warnings coincide with calls from the G7 for member nations to actively counter the operations of the Lazarus Group, a North Korea-linked hacking group known for cryptocurrency theft. These activities are considered a global threat to cybersecurity and financial stability. Experts emphasize the need for extensive international collaboration to combat these malicious activities and develop more effective protective mechanisms to safeguard financial systems from cyberattacks. Establishing a global regulatory framework for cryptocurrencies is highlighted as crucial to ensure their stability and prevent their use in illicit activities. Strengthening international intelligence cooperation is also considered essential in confronting the challenges posed by these criminal groups.