SEOUL (Reuters) - Cryptocurrencies like Bitcoin in South Korea carry a hefty premium over international prices due to capital flow controls aimed at curbing cross-border flows of hot money, which prevent arbitrage, the Bank of America said in a report on Tuesday.

On Tuesday, Bitcoin, the world's biggest and best-known cryptocurrency, was trading at $45,219 on Bitstamp Exchange, but data from the Coinmarketcap.com shows it was trading about $4,000 higher in South Korea. Back in January, 2018, the premium went as high as almost $8,000.