Wandering Alpha Team
Will There Be A War on Cryptocurrencies?
Updated: Sep 11, 2021
It appears that Kim Jong Un has been riding his own Bitcoin rocket out of sanctions by launching WannaCry Ransomware Attacks, Mining Bitcoin, Selling Bitcoin, and even setting up Fake Cryptocurrency Companies.
It's like Digital Weapons of Mass Destruction.
North Korea would/has effectively suckered millions of people around the world to transfer hundreds of millions (possibly billions) of dollars into the Cryptocurrency market.
Why should you care?
While Kim is joyriding on his Bitcoin Rocket, collecting money left and right from the safety of North Korea, the people buying Bitcoins and other cryptocurrencies are stuck in highly regulated home countries where they can face penalties.
That means, if the government decides to make Bitcoin illegal or ties Bitcoin exchanges to conducting business with North Korea, you and your money will be in trouble.
We wouldn't be surprised if people start making the case that North Korea was behind the creation of Bitcoin/other cryptocurrencies, and given the news of today, it wouldn't surprise us if this idea gains more traction.
It's not unreasonable to think President Trump/US Government would outlaw all Bitcoin/Cryptocurrency transactions. Making any bank that accepts transfers or transactions from Cryptocurrency exchanges guilty of felonies and possibly closing them down. They could even claim the individual buyers were conducting business with North Korea.
Remember, the United States War on Drugs was about money and foreign policy against communism. It wasn't launched on moral grounds. So, it's not unreasonable to think there could be a War on Cryptocurrencies.
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