Some specialists say the cryptocurrency conference would be violating the economic sanctions in the Asian country.

Recently, some experts from the United Nations Organization (UN) have issued an alert on the possible holding of a conference on cryptocurrencies and digital assets that would take place in North Korea. According to the organization’s officials, the event violates the sanctions imposed on the state and also violates some treaties and decisions taken by the organization.

North Korea is considered one of the states with the greatest sanctions in the world, not only because of its political and military position but also because of the large number of hackers who carry out attacks on web centers around the world.

According to information related to hackers of North Korean origin, it is known that one of the most active groups on the web, the so-called “Lazarus”, could even have the support of the North Korean government so its activity always seeks to be obstructed by sanctions and computer barriers and thus avoid considerable damage to economic structures in the rest of the countries of the world.

Besides, last year, groups of computer experts raised a report to the UN where they detailed that the Asian country would have invested an amount that exceeds $2 billion for the development of weapons of great impact or considered mass destruction.

According to the report, this money was raised by hackers who used their strategies to rob banking institutions and cryptocurrency exchange houses. Experts called these computer attacks “widespread and increasingly sophisticated”, which raises the suspicion that these hackers may be supported by intelligence agencies of the North Korean state.

It is known that the direct sanctions lifted by the UN to the state of North Korea have been growing since 2006 when North Korean’s plans for the development of large-scale ballistic nuclear weapons and missiles were discovered. The Security Council of the organization voted in its entirety to reinforce the sanctions over the years, so the North Korean economic authorities use alternative plans to finance their projects and as forms of collection.

North Korea and The Crypto-graphical Conference

In the middle of last year, it was known, thanks to some reports and press releases, that a cryptocurrency conference was held in the Asian country and had more than 80 organizations related to the world of cryptocurrencies.

The event was condemned by the entire international community and some people were sanctioned for participating in economic events within North Korean territory that violate the sanctions imposed by the UN and the United States.

According to information related to crypto movements, another cryptocurrency conference will be held next February in the country. The development of this activity keeps the international community on alert, as this directly violates UN sanctions.

In fact, according to Reuters press releases, the conference will discuss controversial issues such as “Cryptocurrencies for evasion of sanctions and money laundering”.

As a counterpart to these movements, the UN has only established reports of suggestions to countries explaining that they should avoid “financial transactions, technical training, advice, services or assistance” if they believe that the money will be allocated to the development of nuclear weapons.

Finally, it was known that the report detailing the realization of the cryptocurrency event will be presented before the Security Council that evaluates the sanctions against North Korea.

By María Rodríguez


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