South Korean authorities have resumed a review of Binance's acquisition of local crypto exchange Gopax after a delay of more than two years, according to market sources, suggesting that Binance could soon return to the Korean market after closing its local operations in 2021.
The Financial Intelligence Analysis Unit (FIU) of South Korea is currently evaluating the official report submitted by Gopax on the replacement of core executives and is actively reviewing it. It is expected that the changes between Binance and Gopax will be approved by the end of 2025 at the earliest.
Under the current legal framework in South Korea, there is no separate qualification review for major shareholders of cryptocurrency exchanges. Therefore, this executive change report is essentially regarded as a review of the qualifications of major shareholders of Binance. In March 2023, after Binance acquired 67% of Gopax as its largest shareholder, Binance and Gopax first submitted the executive change report. Since then, local regulators have put the approval process on hold, citing potential anti-money laundering risks.
South Korean authorities have resumed a review of Binance's acquisition of local crypto exchange Gopax
2025-10-14 05:10:13
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