Daily News Digest: Akon’s “crypto-city” and International Sanctions Against Cryptocurrency Conference in North Korea

North Korean Crypto Conference 

This morning has begun with unpleasant news from the US on the upcoming crypto conference in North Korea. Reuters suggest the conference violates international sanctions. This claim may be followed by a potential arrest of the Virgil Griffith, an Ethereum researcher who has been previously alleged of moving cryptocurrency between South and North Korea. 

Griffith gives conferences on how to illegally access and spread cryptocurrency and evade monetary sanctions. The US government believes the leaked information can benefit North Korea in laundering a great deal of money through corporate fraud. 

FOIN Falls 10% In Selloff

Later that day, the reps of FOIN token have published the explanation of the coin’s fall. At that point, the project’s managers say they cannot control the currency’s price and refund money after its spread. FOIN executives, Dmitry Lungu and Evgeny Petelin noted that possible reasons for the collapse of token were “low educational level of the project developers” and “numerous cases of fraud in Telegram”.

Akon The Broker

American hip-hop artist Akon has received permission to build a crypto-city in Senegal. The rapper envisions the city becoming the first ever to run on renewable energy. The area of ​​the city will cover 2,000 acres that have been generously endowed by Macky Sall, the president of Senegal. Akon proposed an official cryptocurrency – Akoin. At this stage, Akoin has not received permission to legally distribute the currency, contrary to what the representatives claimed about the company’s raising funds.

The Most News

The flotation of the main coins has increased and continues to show positive dynamics. Experts put the strong performance down to the launch of BTC options trading on the Chicago Mercantile Exchange. Today, the price of bitcoin overcame another resistance hurdle, bringing it to the level of 8,900 USD, but fell due to the correction by 250 dollars. Nonetheless, the stable growth of the value of the main cryptocurrency continues.