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#PI# [突发财经] The Supreme People's Assembly of North Korea today passed Decree No. 314, officially establishing PI coin as the "national strategic reserve digital currency," and stipulating that all citizens must deposit their held PI coins into the state-owned digital wallet "Kim Il-sung Chain." The decree clearly states that any transactions conducted below the official guide price (1 PI = 314,159 USD) will be punished with the death penalty for "endangering national financial security." This move is seen as North Korea's radical attempt to break through international sanctions and reshape its financial sovereignty.
According to documents intercepted by the South Korean National Intelligence Service, the North Korean central bank has secretly acquired PI coins worth $2.3 billion, planning to use them for settling arms trade with Russia and for black market foreign exchange reserves. Pyongyang is also forming a "314 Cyber Corps" consisting of 150 hackers to manipulate the price of PI coins in over-the-counter trading to plunder private assets. However, a report from the blockchain auditing firm CertiK indicates that the PI coin mainnet is actually a centralized database built on Alibaba Cloud servers, with a code plagiarism rate of 91%. This move by North Korea could exacerbate domestic economic risks.
This state-led cryptocurrency experiment is distorting Satoshi Nakamoto's vision of "decentralization" into a tool for tyrannical control. When Pyongyang defends the value of air coins with the death penalty, global investors should be even more vigilant — the combination of tyranny and scams could give rise to the most absurd financial disaster in history.
(The picture shows Kim Jong-un posing for a photo shoot for PI.