North Korea Decided To Try Cryptocurrency Mining

According to recent reports, North Korea has recently tried to mine cryptocurrencies on a small scale, as the transactions of such coins are difficult to track and can be easily used for money laundering.

The report, compiled by the research Department of the state development Bank of South Korea (Korea Development Bank), also claimed that North Korean technology firm called Chosun Expo develops and markets a platform for exchange of bitcoins.

North Korea seems interested in determining “the characteristics of cryptocurrencies, including anonymity, the difficulties of tracking money and cash,” the report said.

Bitcoin News

Citing media reports, a division of the state development Bank of South Korea said that North Korea may have tried to mine bitcoin between May and July a year ago, but the attempt seems to have been unsuccessful.

According to the report, North Koreans know very little about cryptocurrencies. According to the recent  interviews with residents of North Korea it was said that they don’t know about any cryptocurrency. However, there are more and more assumptions that the North wants to introduce cryptocurrency into the country’s economy.


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