Cha&Kwon Law Offices examined issues regarding Foreign Exchange Transaction (Arbitrage) Act of virtual assets, especially Bitcoin. Our client request legal examination on the possibility of Bitcoin-using arbitrage; (1) whether foreign exchange is possible (2) arbitrage using Bitcoin market price difference bitween Korea and foreign countries (Kimchi Premium). 

After detailed examination on relevant regulations such as Foreign Exchange Transaction Act, Cha&Kwon Law Offices (1) provided solution that encludes special occassions where foreign exchange is possible and (2) provided meticulous examination on legal risks of transactions/arbitrage using Kimchi Premium. Based on provided risk evaluations, our client could safely modify their business strategy.  

As a law office specialized in blockchain and foreign judicial affairs, Cha&Kwon Law Offices provide optimal solutions for our clients’ businesses. If you have any inquiries regarding virtual asset, cryptocurrency, or Bitcoin, please do not hesitate to contact Cah&Kwon Law Offices.