S.Korea’s ‘Kimchi Premium’ Ebbs Away as Bitcoin Crumbles

[kreslik.news]

South Korean news source Yonhap has reported that the so-called ‘Kimchi Premium’ on the price of Bitcoin is once again on its way out. Kim Yong-beom, Vice Chairman of the South Korean Financial Services Commission, said that the decline of the price of BTC was likely due to the South Korean government’s ban on anonymous trading of cryptocurrencies.

The Kimchi Premium refers to the extra charge that South Korean BTC traders must pay for Bitcoin duringperiods of high-volume trading in South Korea. During these periods, limited liquidity of BTC in the nation has caused the price ... (read more)