Quick Breakdown
- Binance’s GOPAX acquisition likely to be approved by South Korea’s FIU
- Review resumed after U.S. legal issues with Binance were resolved
- Approval could mark Binance’s official return to the South Korean market
Binance is reportedly close to finalizing its long-delayed acquisition of South Korean crypto exchange GOPAX, nearly two years after filing its executive change request with local regulators. The move marks a potential return of the world’s largest exchange to the South Korean market following the easing of its U.S. regulatory challenges.
✅ South Korea Resumes Review of Binance’s Gopax Acquisition After Two-Year Pause
South Korea’s FIU has resumed reviewing Binance’s acquisition of Gopax, with approval possible by late 2025. #crypto
— CryptOpus (@ImCryptOpus) October 14, 2025
Regulatory review back on track after two-year delay
According to a Newsis report, South Korea’s Financial Intelligence Unit (FIU) recently resumed its review of Binance’s executive change filing for GOPAX. Binance first acquired a 67% stake in the exchange in February 2023, becoming its largest shareholder, and later submitted documentation to add its executives to GOPAX’s management board.
However, the process stalled for nearly two and a half years as the Financial Services Commission (FSC) and the FIU raised concerns over Binance’s compliance record, particularly regarding anti-money laundering (AML) measures. Regulators cited ongoing investigations in the U.S., where Binance faced multiple charges from the Securities and Exchange Commission (SEC) and Department of Justice (DOJ) over alleged misuse of customer funds and AML violations.
The situation changed earlier this year when U.S. authorities dropped lawsuits against Binance and its founder Changpeng Zhao, following the company’s $4.3 billion settlement with U.S. regulators. This development has reportedly eased concerns among South Korean officials, paving the way for final approval.
Approval expected before year-end
Industry sources say the FIU now views Binance’s involvement more favorably and could approve the acquisition by late 2025. Officials emphasized that while the executive change is technically a notification process, it effectively serves as a fit-and-proper review of Binance’s role as GOPAX’s controlling shareholder.
If approved, the decision would mark Binance’s formal re-entry into the South Korean market, positioning it to compete in one of Asia’s most tightly regulated crypto jurisdictions.
In a recent development, Binance confirmed plans to list Recall (RECALL), a decentralized marketplace token, on its Binance Alpha and Binance Futures platforms. Trading is set to begin on October 15, 2025, making Binance the first exchange to list the asset.
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