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Articles on Issue Theme

Narciz BĂLĂŞOIU

Academia de Studii Economice din Bucureşti

As a determined and sophisticated cyber-player in search of financial resources, North Korea is expected to continue the effort to identify ways in which to obtain and operate cryptocurrencies. The prospect of Pyongyang engaging in large-scale operations to avoid sanctions and use virtual currencies as a means of paying for luxury goods and services or for the ease of prohibited transactions is a risk that could grow in the future. Southeast Asian states are extremely vulnerable to the various types of illicit activities in which North Korea engages using cryptocurrencies. The fact that there are inconclusive approaches to regulating cryptocurrencies in the region creates a galling systemic risk in the cryptocurrency industry that North Koreans will try to take advantage of.

ŒCONOMICA no. 3/2019

Keywords: cryptocurrencies, economic sanctions, regulation, systemic risk, fraud, “dark web”

JEL: F01, F02

North Korea – From the Nuclear Dossier to the Circumvention of Economic Sanctions through Cryptocurrency Speculation [Coreea de Nord – de la dosarul nuclear la cursa eludării sancţiunilor economice prin speculaţia cu criptomonede]

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