The arbitrage was one of the reasons I went looking into it. I though there was no way you could see a 20% gap on STEEM with quick, free transactions. It would be too easy to make profit. If you know any south koreans it could still be done with the right set up but would probably need to be kept to reasonable amounts.

Thanks for such a comprehensive answer for me and i can see a lot of other countries bringing in similar measures to the ones in the article. Simple ones first like registering through a bank and providing proper details. They are on the way at some stage.