Home
News
- North Korea has been on the news lately for the supposed cryptocurrency it is planning to launch.
- The next conference is dated to be on February 22-29, 2020 In Pyongyang, North Korea.
- The United States which is dominant in the cryptocurrency market is hot-headed towards North Korea’s move in Blockchain technology.
North Korea has been on the news lately for the supposed cryptocurrency it is planning to launch and according to thenextweb.com the north Korean cryptocurrency can be complete bullshit like its conference back in 2019 which was held in Pyongyang, North Korea.
About the conference, Alejandro Cao do Benos” The head of Korean Friendship Association” said that they had around attendant, the access to the conference was free, those visiting from foreign countries paid themselves their traveling expenses and accommodations.
No one knows even the conference happened or not but according to Reuters it happened and an American named Virgil Griffith who attended has been charged for violating U.S. sanctions.
Virgil Griffith was arrested for assisting North Korea in Evading Sanctions and accused of providing highly technical information to North Korea, knowingly that this information could be exploited by North Korea to launder money and evade sanctions.
The sanction was IEEPA and Executive order 13466, United States Persons are prohibited from exporting any goods, services, or technology to the DRPK (Democratic People’s Republic of Korea) without a license from the Department of the treasure, OFAC (Office of Foreign Assets Control). He is now waiting for bail.
The United States which is dominant in the cryptocurrency market is hot-headed towards North Korea’s move in the Blockchain technology and even made it illegal to trade cryptocurrency from and to North Korea.
Vice North Korea wants to weaponize the cryptocurrency because it offers some anonymity and easier for law enforcers and the government to track the cryptocurrency payment across the world.
The obsession of North Korea towards cryptocurrency can be seen clearly and made the country attempt to raise cash through illegal avenues and in 2017, It even tried to get around sanctions by stealing bitcoins using Hackers amounted up to $2 Billion. North Korea even started Mining in the same year to generate funds for the regime.
The next conference is dated to be on February 22-29, 2020 In Pyongyang, North Korea, which is still a mystery that it will happen on not after US tough restricting and warning to the investors to not attend the coming event. The only country which is positive about its blockchain conference to happen is DRPK.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
