Binance Set to Secure Korean Green Light for Gopax Acquisition by Year-End

South Korea’s Financial Intelligence Unit (FIU) is poised to approve Binance’s long-delayed takeover of Gopax, signaling a major shift in regulatory posture toward global crypto firms.

Binance acquired 67 % of Gopax shares in February 2023, submitting an executive registration with Korean regulators the following month. However, approval was stalled as Seoul scrutinized the deal amid global regulatory scrutiny of Binance’s operations.

Regulators in Korea had deferred action over concerns that Binance’s entry could weaken anti–money laundering safeguards, especially while U.S. authorities were pursuing enforcement actions against the crypto giant. In 2023, the U.S. Securities and Exchange Commission filed suits alleging Binance offered unlicensed services and mishandled customer funds; concurrently, the U.S. Treasury and Justice Departments imposed some $4.3 billion in fines for deficits in compliance controls.

With those U.S. legal disputes now settled or withdrawn, Seoul’s regulatory authorities see fewer obstacles in granting final clearance. An FIU source noted that although the executive-change notice is typically procedural, in Binance’s case it has functioned as a de facto suitability test. With the American cases resolved, the risk premium associated with Binance’s ownership has diminished — clearing the path for year-end approval.

For global investors and observers of Asia’s crypto markets, the approval would mark Binance’s rebirth in Korea, enabling deeper liquidity integration and reinforcing Seoul’s willingness to balance regulatory caution with openness to foreign capital.

Still, regulators will be watching closely: this decision may set precedents for how Korea treats large foreign crypto players going forward.