Naver Financial and South Korean crypto company Dunamu have postponed their planned comprehensive share swap for a second time, pushing the expected completion date to December 31.
Dunamu announced that the exchange, previously scheduled for September 30, has been delayed by another three months. The companies had already moved the date once earlier this year, changing it from June 30 to September 30. The share exchange ratio remains unchanged. Naver Financial will issue 2.5422618 shares for every one Dunamu share under the agreement.
The Naver Financial-Dunamu stock swap just got delayed for the second time, now pushed to December 31 from September 30. It was originally supposed to close June 30, delayed to September 30 in March, now delayed again.
The exchange ratio stays the same, 1 Dunamu share for… pic.twitter.com/KQ1OEDRHt9
— Tony Chung (@jayc_BM) July 7, 2026
According to Dunamu, the transaction still depends on several regulatory approvals, including clearance from the Korea Fair Trade Commission, approval for changes in major shareholders under the Credit Information Act, and regulatory notification requirements under South Korea’s financial reporting rules. The company also warned that the deal could still be delayed further or cancelled if required approvals are not completed.
New digital asset rules could affect the deal
Dunamu also pointed to South Korea’s proposed Framework Act on Digital Assets as another factor that could influence the transaction.
The legislation is still under discussion, and any new rules introduced before the share swap is completed could affect how the agreement moves forward. While the companies did not identify any specific concerns, they acknowledged that changes to the legal framework could alter the timing or outcome of the transaction.
Regulatory approval must be gotten before completing deals
Large crypto companies have faced similar situations in several countries where mergers, acquisitions, or ownership changes required financial regulators to review the transaction before it could proceed.
For example, Binance has delayed expansion plans in several markets while waiting for regulatory approvals, and Coinbase has also secured additional licenses before introducing new financial products in regulated markets. In South Korea, companies operating crypto exchanges face extra oversight because changes in ownership can affect licensing requirements and compliance obligations.
That makes regulatory approval more than a procedural step. Until every required agency signs off, companies often choose to delay closing major transactions rather than risk violating financial rules. For Dunamu and Naver Financial, the remaining approvals will determine whether the planned share swap moves ahead before the end of the year.
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