[Bitcoin Now] Financial Services Commission Approves Binance's Gopax Executive Change... Acquisition Finalized

Binance, the world's largest cryptocurrency exchange, is set to acquire Gopax, the fifth-largest exchange in South Korea.

According to financial authorities on October 16, the Financial Intelligence Unit (FIU) of the Financial Services Commission approved Binance's executive change application the previous day.

Binance had sought to enter the Korean market by acquiring shares in Gopax in 2023. However, the process was delayed as legal procedures, such as approval for executive changes by the authorities, were slow to be completed.

With the financial authorities now approving the executive change, Binance's entry into the Korean market, which had been delayed for more than two years, is expected to gain momentum.

In addition, the compensation payments for Gopay victims, which Binance had pledged, are also expected to accelerate.