Stockpiling : North Korea could accumulate reserves of cryptocurrencies with the objective of eventually spending them or converting them into fiat currency at some point in the future. And who would do it? Added more sanctions in response. That seems like a win/win. If you just read the executive summary itself youll see the classic scholastic trick of footnoting someone elses speculation, in this case The UN Security Councils Panel of Experts on wallet ethereum and bitcoin North Korea, to corroborate rusis speculations. The fact that Japan is most squarely in Kim Jong Un's missile cross hairs, should make that argument somewhat easier to make in Tokyo now that we now of Pyongyang's bitcoin maneuvering.
Sanctions hit the people not the regime. This is called appeal to authority.
For more insight from cnbc contributors, follow @cnbcopinion on Twitter. The words "collectible" and "enthusiasts" sure sound like the terms we use for commodities like rare coins, fine art, and sports souvenirs, don't they? North Koreas alleged attacks (Source 8BTC). This spring, Bloomberg wrote: "the only reason Bitcoin has value to anyone is because of the underlying value as a medium of exchange for lawbreakers. Welcome to Fearville folks. Nikkei Asian Review, the nation led By Kim Jong-Un had acquired 571 million US dollars from their devious acts between January 2017 to September 2018. Implicit in all of these arguments is that sanctions are a legitimate tool for political gain. Closing the Crypto Gap: Guidance for Countering North Korean Cryptocurrency Activity in Southeast Asia. That's because by imposing that reserve requirement, shadier bitcoin markets and exchanges would be forced out of the business.