Binance Nears South Korea Return as Authorities Review Gopax Acquisition

Binance is close to re-entering the South Korean market after acquiring a 67% stake in local exchange Gopax.
The South Korean Financial Intelligence Unit (FIU) is assessing changes to Gopax’s key executives, which is crucial for Binance's ownership stake.
The review process was delayed due to anti-money laundering concerns but is now progressing positively. Approval could allow Binance to operate officially in South Korea by the end of 2025.
Binance acquired its stake in Gopax in February 2023 as part of a rescue effort during Gopax’s liquidity crisis linked to Genesis Global Capital's bankruptcy.
A $4.3 billion settlement with US regulators has alleviated some concerns from South Korean authorities.
South Korean investors remain highly interested in crypto assets, with $1.24 billion invested in US tech and crypto-linked stocks during the Chuseok holiday.
Popular investments included leveraged ETFs related to Tesla, Bitcoin mining companies, and Meta, indicating ongoing interest in crypto-related opportunities.