What has happened?
A U.S. citizen has been charged in the Southern District of New York
with conspiring to violate the International Emergency Economic
Powers Act (IEEPA), allegedly providing services to North Korea by
delivering a presentation and providing technical advice in North
Korea on using cryptocurrency and blockchain technology to evade
sanctions and launder money.
What does this mean?
According to the complaint, in April 2019, Virgil Griffith, a
U.S. citizen and Singapore resident, travelled to North Korea to
give a presentation at the “Pyongyang Blockchain and
Cryptocurrency Conference”.
Griffith had asked for permission to go to North Korea, but his
request was denied by the U.S. Department of State. According to
the complaint, Griffith nevertheless travelled to North Korea by
way of China.
