UN Officials Warn Not to Attend N. Korean Cryptocurrency Conference Jonathan Ganor 2020-01-15 03:48:07 737 views

Could More Cryptocurrency Fans Get Arrested?

Last December an Ethereum developer was arrested after attending a cryptocurrency conference in North Korea. The developer, Virgil Griffith, was accused by US authorities of assisting the North Korean regime with money laundering. He was later released on bail while awaiting his trial.

UN Sanctions Expert Warning

As initially reported by Reuters, the UN is warning individuals not to attend cryptocurrency conferences in North Korea. Sanctions experts have issued a warning for individuals not to attend a cryptocurrency conference in North Korea in February. They were apparently referring to the Pyongyang Blockchain and Cryptocurrency Conference 2020 which will kick off on the 22nd of February.

UN officials claim that attending the conference could be seen as a sanctions violation and could have ramifications. This is following an August report that North Korea generated $2 billion for weapons programs using cyber attacks on banks and cryptocurrency exchanges.

"Supporting the DPRK's use of cryptocurrency and blockchain technology, risks violating the Security Council's resolutions because it would unavoidably increase the DPRK's ability to subvert sanctions and generate revenue for its weapons programs," said a British Security Council diplomat

In the FAQ for the Pyongyang blockchain and cryptocurrency conference, it claims that US citizens are welcome, and passports will not be stamped for confidentiality purposes. Furthermore, laptops and smartphones are allowed as long a they do not contain any digital material that could be seen as offensive.

While cryptocurrency and blockchain conferences can be enjoyable, this conference might be one to avoid.

Back to Home