It will be arranged against the backdrop of Western fears that Pyongyang is using a payment system to finance the production of mass destruction weapons.
The organizer of the event is the Korean Friendship Association – it supports the DPRK government and is based in Spain. The international conference on cryptocurrencies will be held in the scientific and technical complex in Pyongyang.
According to the organizers, the event will be larger than what was arranged in April last year. Then, the DPRK’s first ever conference on blockchain technology and cryptocurrencies brought together more than a hundred foreign experts from around the world. North Korean authorities closed access to the event for journalists, as well as citizens of South Korea, Japan and Israel. Before that, English-language media, citing UN Security Council experts, said that North Korea illegally accumulates cryptocurrency and conducts hacker attacks against financial institutions in other countries.
Recently, Reuters stated that a new report by the Security Council states that the DPRK continues to develop its nuclear program, as well as organizes cyber attacks on financial institutions and cryptocurrency exchange systems around the world, which brings illegal income to the country. The cryptocurrency conference in North Korea will last for a week.