Binance has completed its acquisition of the South Korean cryptocurrency exchange Gopax, following approval from the South Korean Financial Intelligence Analysis Service. The approval, granted on Wednesday, marks the end of a two-year delay due to regulatory concerns over anti-money laundering risks. Binance had acquired a 67% stake in Gopax in February 2023.
The approval is seen as a significant step for Binance, allowing it to re-enter the South Korean market after ceasing local operations in 2021. The decision reportedly follows the resolution of compliance issues faced by Binance in the United States, paving the way for its expansion in South Korea.
Binance Finalizes Acquisition of South Korean Exchange Gopax
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