North Korea avoids economic sanctions using cryptocurrencies
Independent financial analysts believe that North Korea has used cryptocurrency to evade economic condemnations led by the United States
Finance experts Lourdes Miranda and Ross Delston say that North Korea will use a “mixer” also called “Laundry, glass and washing machine” to move cryptocurrencies, so their traces could not be tracked. Usually the assets are sent to the original source.
Similarly, experts warn that the aforementioned nation can change to a different stablecoin to hide the origin of the funds.
North Korea could create its own digital wallet service to move assets to and from accounts in Europe that do not have personally identifiable information, in order to hide their origin.
After the funds pass through anonymous accounts, they will reach the European exchanges that have direct relations with the US banks. Subsequently, they will be converted into US dollars.
Furthermore, North Korea, following the example of Iran, could be developing its own cryptocurrency with the purpose of continuing to evade sanctions by the US.
L.Sáenz
Source: Criptomonedas&ICOs
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