0 sats \ 1 reply \ @south_korea_ln 2 Jun 2023 \ parent \ on: On/OffRamps BTC Only, with Lightning + with KYC bitcoin
Korea has extremely strict capital control laws. I can relatively easily send money into the country, it's much much harder to send out.
Wise only works one way for Korea. It's probably not worth their time to do the paperwork to offer the service the other way.
Remember the 2017 Kimchi premium? The arbitrage loop was difficult to close because of these laws...
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0 sats \ 0 replies \ @john_doe 3 Jun 2023
I see. I didn't know that, thank you for the info. Japan is similar but slightly more open. I always have to answer questions like why I want to use my money and for which purpose. Same thing for the pension system, it is tricky to get our money out even though it is legal.
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