Worldwide sanctions consultants from the United Nations are warning individuals to not attend a cryptocurrency convention in North Korea.

The convention, which is allegedly going down in February, is being flagged as a possible sanctions violation, Reuters reports.

Consultants have laid out their recommendation in a confidential report that’s to be submitted to the UN Safety Council later this month.

The UN has been holding an in depth eye on the Asian nation and its use of blockchain and cryptocurrency.

In November final yr, a UN report claimed that North Korea had laundered cash by a shell firm posing as a “transport and logistics agency run on a blockchain platform.”

The UN has additionally been monitoring the Asian nation’s cryptocurrency-focused hacking exploits, which it says netted the nation greater than $2 billion. North korea has denied the UN’s claims.

Certainly, given the current arrest of American Ethereum developer Virgil Griffith, the UN’s recommendation to keep away from North Korea isn’t in any respect shocking.

Griffith is at the moment below investigation for allegedly travelling to North Korea to debate how cryptocurrency may very well be used to evade sanctions. On the time of writing, he’s posted on bail for $1 million.

North Korea’s convention thriller

North Korea first introduced that it could be holding a cryptocurrency convention again in August 2018. The nation allegedly deliberate for the occasion to happen two months later and final two days.

Little or no data was shared, though it was mentioned the convention would finish with a meet and greet between the nation’s business leaders and consultants.

An investigation by Onerous Fork later came upon that the occasion was postponed. And thus far it stays unclear if the occasion really ever occurred, in any respect.

Regardless of prolonged correspondence with the occasion’s supposed organizers, only one inconclusive {photograph} was offered as proof that the convention went forward.