South Korea might soon curb overseas cryptocurrency transactions benefiting from arbitrage buying and selling opportunities.
The Kimchi Premium
Based on a report from Korea Economic Daily, there was a sudden rise in transactions between Korea and China.
The nation’s main banks discovered fiat transfers of $72.7 million (81.2 billion won) to China between April 1st to 9th. Obviously, this was an eightfold improvement from $9.07 million in complete for the entire of March.
Furthermore, Korean regulators suspect that the sudden spike in transactions is linked to cryptocurrency purchases. These purchases were allegedly carried out on overseas exchanges with …
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