As the price of a Bitcoin has, on average, increased almost 50% over the past month, it has diverged drastically between markets as traders find it increasingly difficult to move traditional currencies, or fiat, across borders.

A lawsuit filed on April 5, 2017 by Bitfinex, a B.V.I.-incorporated Bitcoin exchange, revealed that U.S. bank Wells Fargo had stopped processing U.S. dollars between Bitfinex’ Taiwanese partner banks its customers worldwide. As a private company, Wells Fargo is free to do business with whoever they please, but as the sole bank available for U.S. dollar clearance to many Taiwanese banks, getting shut out of the dollar market is a highly painful, if not existential incident.

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Bitcoin’s Volatile Trading In Asia Tells Us A Lot About Local Banking Systems
Bitcoin prices have diverged massively between markets in Asia, revealing problems in the underlying banking and regulatory structures.

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As the price of a Bitcoin has, on average, increased…


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