April 23, 2024

North Korea creates its own cryptocurrency

North Korea creates its own cryptocurrency
North Korean government to create cryptocurrency

North Korea is at an early stage of developmentown cryptocurrency, VICE news reported.  

North Korean cryptocurrency

The government said that the purpose of cryptocurrency –"to avoid international sanctions and circumvent the US-dominated global financial system."

"We are still in the very early stages of token creation.", – said Alejandro Cao de Benos, Special Representative of the Cultural Relations Committee of the Democratic People's Republic of Korea. 

Cao de Benos also added that the cryptocurrency will not be a digitized North Korean value, but will be “more like Bitcoin or other cryptocurrencies.”

  • A group of experts at the UN accused North Korean authorities of stealing $2 billion in cryptocurrency and fiat. The North Korean regime responded by comparing "the United States and other hostile forces" with Hitler.