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The UN warns on North Korean Crypto Conference

Jan 30, 2020

As has been previously reported, North Korea will host its second blockchain conference that will take place in February. The event is being arranged by Alejandro Cao de Benos, a president of the Korean Friendship and Chris Emms, a business developer at

This January, the United Nations warned people not to attend the upcoming North Korean Crypto Conference and openly stated that attending the conference will likely constitute a sanctions violation.

The UN sanctions have been imposed on North Korea back in 2006 after its first nuclear test. Financial assets including cryptocurrency and banking transactions are also covered by sanctions. Moreover, last year the UN panel reported that North Korea is involved in sophisticated cyberattacks and generated about $2 billion by taking funds from crypto exchanges and financial institutions. The international community is concerned that North Korea might use blockchain technology for harmful purposes.

In addition, it worth noting that Ethereum Foundation researcher Virgil Griffith faced the indictment after attending the previous North Korean blockchain conference in April last year. According to the allegation, the researcher cooperated with North Korea without the United States’ permission. Currently, Griffith faces up to 20 years in prison as accused of sanctions law violation.

The recent indictment demonstrates that attending the event can lead to serious consequences, especially for US citizens. The crypto conference will take place in North Korea on 22-29 of February. The participation fee is 3,300 euro per person according to the event’s website and includes sightseeing, entertainment, conferences, and business meetings.

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