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North Korea is trying to amass a bitcoin war chest

13 Septembre 2017

The UN Security Council this week added new sanctions against North Korea after leader Kim Jong Un's regime conducted its sixth and most powerful nuclear test. Mnuchin echoed the USA envoy to the UN, Nikki Haley, in calling the sanctions "historic", even though they didn't include United States demands for a full oil embargo and a freeze on Kim's assets. "We can designate Chinese banks and companies unilaterally, giving them a choice between doing business with North Korea or the United States", said Royce, who had breakfast on Tuesday with Secretary of State Rex Tillerson.

The North says it needs nuclear weapons to protect itself from "hostile" U.S. forces and analysts believe Pyongyang's weapons programme has made rapid progress under leader Kim Jong-Un, with previous sanctions having done little to deter it.

"Today's resolution would not have happened without the strong relationship that has developed between President Trump and Chinese President Xi", Haley said.

Monday's US -drafted sanctions resolution, which passed unanimously, includes a ban on textile exports and a restriction on the shipments of oil products, among other measures.

Intelligence agencies and cybersecurity experts have also linked North Korea to WannaCry, the biggest cyberattack the world has ever seen.

The rose 1.05% and the Kospi in South Korea posted 0.12% gain.

The U.S. had initially distributed a tougher draft of the sanctions resolution that included a full embargo on oil exports to North Korea.

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The Security Council vote comes just over a month after United Nations diplomats targeted about $1 billion in North Korean exports.

Hackers tied to North Korea are also suspected of carrying out a series of attacks on global banks that came to light past year.

Last week, US President Donald Trump agreed to lift payload limits under a decades-old treaty, allowing South Korea to build more powerful ballistic missiles. The new measure also adds a caveat to the original language that would have banned the import of North Korean laborers altogether, saying that countries should not provide work authorization papers unless necessary for humanitarian assistance or denuclearization.

The two nations set out what they called "four nos."

North Korean leader Kim Jong Un meets scientists and technicians in the field of researches into nuclear weapons in this undated photo released by North Korea's Korean Central News Agency (KCNA) in Pyongyang March 9, 2016.

"We wanted those who would be inclined to water down the text to own that position", said the USA official.

The tensions have weighed on global markets, but there was some relief on Monday among investors that North Korea refrained from conducting another missile test this past weekend to celebrate 69 years since its founding.

North Korea is trying to amass a bitcoin war chest