Report: N. Korea Using Cryptocurrency to Fund Weapons Program
North Korea is using cryptocurrency markets to evade global sanctions and is likely using the virtual money to fund its weapons of mass destruction programs, according to a new report from the London-based Royal United Services Institute (RUSI). The report recommends regulators take urgent steps to counter the threat. Pyongyang is subject to wide-ranging international sanctions following a series of nuclear tests and long-range missile launches in recent years. The reclusive state is seeking ways to raise money and bypass those sanctions — and emerging cryptocurrencies could become a key lifeline for the regime, says report co-author Kayla Izenman.