World’s largest crypto exchange Binance makes official entry into S. Korea
Binance, the world’s largest cryptocurrency exchange, has completed its long-delayed acquisition of South Korean crypto exchange Gopax, marking its foray into the country. The move is expected to shake up the domestic crypto market long dominated by Upbit and Bithumb.
According to financial authorities on Wednesday, the Financial Intelligence Unit (FIU) on Wednesday granted final approval of Binance’s purchase of a majority stake in Gopax.
In February 2023, Binance purchased a 67% stake in Gopax. However, the FIU had withheld approval for the deal for more than two years amid concerns surrounding Binance’s legal troubles in the US and potential anti-money laundering risks.
In June 2023, the US Securities and Exchange…
