South Korean authorities have resumed their review of Binance’s acquisition of local crypto exchange Gopax.

After a delay of over two years, South Korean authorities have resumed their review of Binance's acquisition of Gopax, a local cryptocurrency exchange. This suggests that Binance may soon return to the Korean market after shutting down its local operations in 2021. The Financial Intelligence Analysis Service (FIU) is currently evaluating Gopax's formal report on the replacement of core executives and is taking a positive approach, anticipating approval of the changes at Binance and Gopax as early as the end of 2025. Under current South Korean law, there is no separate qualification review for major shareholders of cryptocurrency exchanges. Therefore, this executive change report is effectively considered a review of the qualifications of Binance's major shareholders.