Quick Breakdown:
- Binance CEO Richard Teng to visit South Korea next week to highlight compliance and investor protection.
- Meetings set with regulators and industry leaders amid Korea’s tightening crypto framework.
- The visit comes as Binance faces delays in acquiring local exchange GOPAX due to regulatory hurdles.
Binance CEO Richard Teng will travel to South Korea next week as part of the exchange’s broader effort to strengthen regulatory cooperation and user protection, the company confirmed Thursday. His visit coincides with Seoul’s accelerated push to formalize oversight of the digital asset sector.
Teng’s itinerary includes keynote appearances at the World Knowledge Forum and Cyber Summit Korea 2025, hosted by the National Intelligence Service. Beyond public engagements, he is scheduled to meet with policymakers, regulators, and industry leaders to discuss building a safer and more transparent crypto ecosystem.
“Investor protection and global cooperation are crucial for the virtual asset industry to be trusted as part of the financial system,”
Teng said ahead of the trip.
Compliance and Partnerships in Focus
Binance has worked to align itself with Korean authorities through compliance initiatives and law enforcement partnerships. In August, the exchange received a certificate of appreciation from the Korean National Police Agency for assisting in cybercrime investigations and crypto fraud cases—its second such recognition in Korea. No other overseas exchange has received multiple commendations.
The company has also supported cross-border enforcement frameworks and initiatives aimed at enhancing market transparency. Teng is expected to highlight these measures in upcoming meetings, signaling Binance’s intention to remain a long-term partner in Korea’s digital asset landscape.
GOPAX Deal Remains in Limbo
Despite these efforts, Binance’s acquisition of local exchange GOPAX, first announced in 2023, remains stalled. Korean regulators have yet to grant final approval, wary of allowing greater foreign ownership in a tightly controlled sector. The delay underscores the challenges global exchanges face in penetrating South Korea’s heavily regulated crypto market.
Meanwhile, Binance founder Changpeng Zhao has urged Hong Kong to broaden the range of cryptocurrencies available on licensed exchanges, warning that its narrow listing framework limits the city’s ability to compete with hubs like the United States and the UAE. Speaking to the South China Morning Post, Zhao argued that a more inclusive approach is critical if Hong Kong wants to lead in the global digital asset race.
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