North Korea is in the early stages of developing its own cryptocurrency, according to a VICE news report.
Cryptocurrency of North Korea
The government said the goal of the cryptocurrency is "to avoid international sanctions and bypass the global financial system dominated by the United States."
"We are still in the very early stages of creating a tokenToken
– is an accounting unit that is used to represent a digital balance in an asset.Details," said Alejandro Cao de Benos, Special Representative of the Committee on Cultural Relations 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."
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- 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.