The article discusses the persistent premium on bitcoin prices in South Korea compared to international prices. This premium is attributed to the combination of rigid capital controls and complex financial rules that limit cross-border arbitrage, as well as the high demand for crypto in the country. The premium has been intensifying in recent weeks and has reached levels not seen since April 2024. In contrast, the premium on Coinbase, a US exchange, remains very low, suggesting subdued activity in transatlantic markets. This highlights the unique dynamics of the South Korean crypto market, driven by regulatory factors and strong local demand.



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