North Korea (DPRK) Sanctions Lawyers
North Korea is subject to the most comprehensive U.S. sanctions program after Iran and Cuba. OFAC’s North Korea Sanctions Regulations prohibit virtually all transactions. Our lawyers advise on DPRK sanctions compliance, cryptocurrency exposure, and SDN list issues.
North Korea (DPRK) is subject to one of the most comprehensive U.S. sanctions programs administered by OFAC under the North Korea Sanctions Regulations (31 CFR Part 510). Virtually all transactions between U.S. persons and North Korea are prohibited. Cryptocurrency transactions traced to North Korean-linked addresses (such as Lazarus Group) may also constitute OFAC violations.
North Korea Sanctions — What Is Prohibited
| Transaction Type | Status Under DPRK Sanctions |
|---|---|
| All trade (imports/exports) | PROHIBITED |
| Financial transactions with DPRK | PROHIBITED |
| Investment in North Korea | PROHIBITED |
| Transactions with DPRK government | PROHIBITED |
| Cryptocurrency from Lazarus Group | PROHIBITED — OFAC-designated |
| Humanitarian transactions | Require OFAC specific license |
| Informational materials | Generally permitted under IEEPA exemption |
Legal Basis for DPRK Sanctions
The legal basis for U.S. North Korea sanctions includes the Trading with the Enemy Act (TWEA), the International Emergency Economic Powers Act (IEEPA), and multiple executive orders including EO 13466, 13551, 13570, 13619, 13687, 13722, and 13810. OFAC’s North Korea Sanctions Regulations (31 CFR Part 510) implement these authorities.
North Korea Sanctions and Cryptocurrency
OFAC has designated multiple North Korean hacking groups including Lazarus Group, Bluenoroff, and Andariel on the SDN list. These groups have conducted large-scale cryptocurrency theft — over $1.7 billion in 2022 alone. If you receive or transact in cryptocurrency traced to DPRK-linked wallets, you may face OFAC liability — even if you were unaware of the connection. Our OFAC lawyers advise on virtual asset compliance and respond to OFAC investigations involving cryptocurrency.
How Our Lawyers Can Help
Our team provides legal advice on DPRK sanctions compliance, cryptocurrency OFAC exposure, and voluntary self-disclosure for unintentional violations. Contact us at [email protected] or WhatsApp/Telegram: +357 96 447475.
North Korea (DPRK) Sanctions FAQ
Are North Korea sanctions comprehensive?
Yes. North Korea (DPRK) is subject to one of the most comprehensive U.S. sanctions programs. Virtually all trade, financial transactions, and investment involving North Korea are prohibited for U.S. persons without a specific OFAC license.
Can I receive cryptocurrency from North Korea?
No. OFAC has designated North Korean hacking groups (Lazarus Group, Bluenoroff, Andariel) on the SDN list. Receiving cryptocurrency traced to DPRK-linked wallets constitutes a potential OFAC violation, even unknowingly.
What is the Lazarus Group?
Lazarus Group is a North Korean state-sponsored cybercriminal organization designated on the OFAC SDN list. It has stolen over billion in cryptocurrency and is responsible for numerous high-profile hacks including the 2016 Bangladesh Bank heist.
Are there any exceptions to North Korea sanctions?
Very limited. OFAC allows informational materials under IEEPA exemptions. Humanitarian transactions require a specific OFAC license. There is no broad exception for business transactions.
Can I travel to North Korea?
U.S. citizens are prohibited from traveling to North Korea under the State Department travel ban (separate from OFAC sanctions). Additionally, all financial transactions in North Korea would violate OFAC sanctions.
What should I do if I inadvertently received DPRK-linked cryptocurrency?
Stop all further transactions involving those assets immediately. Contact our OFAC lawyers for an urgent assessment. We can advise on voluntary self-disclosure and help structure a response that minimizes your liability.