August 9, 2020

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 development own cryptocurrency, according to VICE news.

North Korean cryptocurrency

The government said the goal of cryptocurrency is "Avoid international sanctions and circumvent the global financial system dominated by the United States."

"We are still in the very early stages of creating a token."Said Alejandro Cao de Benos, Special Representative of the Committee on Cultural Relations of the Democratic People’s Republic of Korea.

Kao 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 the 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.