In brief
- Binance has received regulatory approval to take majority control of GOPAX after prolonged scrutiny.
- GOPAX says the move marks progress toward resolving GOFi repayments tied to Genesis Global Capital.
- Analysts say the decision reconciles with regulators but does not mean immediate disruption in a crypto market still dominated by Upbit and Bithumb.
South Korea’s Financial Intelligence Unit has approved Binance’s majority stake acquisition of GOPAX, ending a regulatory impasse that had stifled its return to the Korean market for over two years.
The approval allows Binance to take majority control of GOPAX, restart operations in Korea, honor repayment pledges to users, and position itself to compete with dominant local exchanges.
The decision was confirmed on Wednesday and first disclosed on Thursday through local press outlet MK.
On Thursday, GOPAX announced
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Author: Vince Dioquino
