South and North Korea may be separated by a border that's only 2.5 miles wide, but the two nations couldn't possibly be more different, at least when it comes to crypto. South Korea has emerged over the past few years as one of the world's major crypto-trading centers, with the BTC-KRW (Korean won) market being the fourth biggest among national fiat currencies. By contrast, most North Koreans have almost zero knowledge of cryptocurrencies, even though their government has been engaging in Bitcoin mining and the hacking of crypto exchanges in a bid to secure an alternative revenue stream.
As the following analysis will explain, this marked divergence is a product of similarly divergent conditions. South Korea is the 11th biggest economy in the world and ranks highly in more than one global index of innovative nations. Meanwhile, North Korea is one of the globe's poorest nations, with an estimated GDP of around $40 billion. Its situation also isn't helped by the fact that it's ruled by a totalitarian, one-party government that makes individual enterprise all-but impossible, and that it's subject to a range of international sanctions.
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