"Binance Acquires GOPAX"—FSC Completes Executive Change Review [Crypto Briefing]

According to Financial News, Binance, the world's largest cryptocurrency exchange, has finalized the acquisition process of GOPAX, a local crypto exchange.
An official from the Financial Intelligence Unit (FIU) under the Financial Services Commission (FSC) stated on the 16th, "The review of GOPAX's executive change notification has been completed." This effectively marks the final approval of Binance's acquisition of GOPAX.
Previously, Binance sought to enter the Korean market by acquiring shares in GOPAX in 2023. However, the process was delayed due to legal procedures, such as the review of executive change notifications by financial authorities.
Under current law, cryptocurrency exchanges are not subject to a separate major shareholder eligibility review. Instead, CEOs and executives must be reported to the financial authorities, who then decide whether to approve the notification after a review.
elikim@fnnews.com Kim Mi-hee, Lim Sang-hyuk Reporter