South Korean authorities have restarted the review of Binance's acquisition of Gopax, possibly paving the way for a return to the South Korean market.

Odaily News South Korean authorities have restarted the review of Binance's acquisition of local encryption exchange Gopax, which had been suspended for more than two years. This move is seen as an important signal for Binance's return to the local market after exiting South Korea in 2021. The Financial Intelligence Unit (FIU) of South Korea is currently assessing the core executive change report submitted by Gopax and is optimistic, with approval of the relevant changes expected as early as the end of 2025. Under the current legal framework in South Korea, there is no separate qualification review for major shareholders of exchanges, so the report is essentially viewed as an evaluation of Binance's shareholder qualifications. In March 2023, after acquiring 67% of Gopax's shares and becoming the largest shareholder, Binance first submitted the executive change report, but the approval was postponed by regulators due to money laundering risk considerations. (The Block)