Does North Korea Support Cryptocurrency?

Friends of mine have been asking as I am currently located in Pyongyang the capital of North Korean republic, whether our leader is going to be supporting cryptocurrency?

north korea bitcoin

I have some good or bad news for you, depending on your viewpoint on crypto. The North Korean leaders have a very bullish view towards the entire blockchain ecosystem. They have been using Bitcoin to launder money and bypass sanctions for years now. If you look at many of the top exchanges such as Bitfinex, Bitstamp, and others you’ll see that the majority of the volume is proxied North Korean volume which is funneled through South Korean. By using a proxy they can also get access to exchanges such as Bithumb and Coinone which are located on the south side of Korea.

Cryptocurrency is definitely here to stay and therefore we can’t see any leaders of North Korea having a bearish outlook. Alongside the current bullish state of crypto, the USA and more importantly Donald Trump have made a peace deal with NK and are currently working together to ease sanctions, this could lead to a whole new batch of investors getting into crypto and we could see a boom like no other, the market could explode and go potentially 3-4x from its current levels.

Another viewpoint that I had from a friend of mine working at ICOBench is that since China has pulled out of crypto and banned it in their country, that could mean that Korea does the same, however we believe that Korea is more likely to follow the path of their neighbors Japan, who have endorsed cryptocurrency and will be looking to make it into a federally regulated form of payment.

So what can we gather from this in summary? Bitcoin is here to stay, and our expert friend Jeremy at TheTechInsider believes that BTC will be going to 30K by the end of 2019, he wasn’t wrong before and I doubt he’d be wrong this time.