A wave of regulatory changes in major Asian economies like
Japan and South Korea has pushed bitcoin trading to an all-time
high, but with this growth has come increased offshore
The global price of bitcoin has surged considerably in
recent months, reaching a record $1,588 early last month,
Nikkei Asian Review, with trading in Chinese, Japanese and
Korean currencies the key drivers.
But market participants have told IFLR that the upshot in
trading volumes may have been triggered by significant overseas
arbitrage activity by Asian bitcoin investors, often through
so-called crypto-asset managers.
"There has been significant arbitrage activity occurring
across exchanges in Asia for the past two years," said
Aurélien Menant, founder and chief executive of
Gatecoin, a regulated bitcoin and ethereum token exchange based
in Hong Kong. He added that the bitcoin price in some countries
has often traded at a premium compared to...