South Korean authorities have resumed their review of Binance's acquisition of the local cryptocurrency exchange Gopax

ChainCatcher news reports that, according to market sources, after more than two years of delays, South Korean authorities have resumed their review of Binance's acquisition of the local cryptocurrency exchange Gopax. This indicates that Binance may soon return to the South Korean market after shutting down its local operations in 2021.

The Financial Intelligence Unit (FIU) of South Korea is currently evaluating the formal report submitted by Gopax regarding the replacement of core executives and is taking a positive review stance. Approval for the changes between Binance and Gopax is 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 cryptocurrency exchanges. Therefore, this executive change report is essentially viewed as a review of the qualifications of Binance's major shareholders.

In March 2023, after Binance acquired a 67% stake in Gopax, becoming its largest shareholder, Binance and Gopax submitted their first executive change report. Subsequently, local regulators suspended the approval process citing potential anti-money laundering risks.