We have recently reported that the Kaspersky Lab antivirus detected a hacker attack coming from North Korea aimed at the crypto exchange, which immediately made it clear that the “life” of blockchain and cryptocurrency in Korea is developing rapidly.
Financial analysts, Lourdes Miranda and Ross Delston, said in an interview with the Asian Times that Pyongyang could not only trade cryptocurrencies on foreign exchanges, but also create its own virtual currency. The question is only how do American sanctions affect such trading?
And the answer is – they don’t. Lourdes says that North Korea uses many different foreign crypto exchanges and other financial institutions that have proper relations with the States. Moreover, the couple is confident that the DPRK can create its own blockchain, where all transactions will be monitored to show that money comes from “legitimate sources”. But according to the analysts, Pyongyang, in fact, mines cryptocurrency, creates its own online wallets, sends cryptocurrencies to European online wallets that do not suffer from US sanctions, the exchange is carried out, the assets are withdrawn and voila – the DPRK anonymously receives dollars bypassing the US.
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