Cash News
In most of the world, crypto trading remains a niche pursuit, limited to those investors with the highest tolerance for risk. In South Korea, it’s all the rage, and has been for years. In fact, there’s now more trading activity in Bitcoin and other virtual currencies on Korean crypto exchanges than there is in the companies on the national benchmark Kospi share index.
That huge demand can only be satisfied by local exchanges, as currency controls and anti money-laundering rules bar Koreans from easily converting their local-currency savings in order to trade on international crypto markets. For this reason, Bitcoin and other cryptocurrencies change hands in South Korea at a significant premium to elsewhere.