- Binance’s entry into South Korean markets via Gopax may be limited due to the recent revelations of its non-compliance with America’s regulations.
- The bid submitted by Binance to acquire Gopax has not yet been accepted by South Korea’s Financial Services Commission.
- The delay in the acceptance of the acquisition bid could be considered a green light, as per analyst Jeong Hye-won.
According to the latest reports, the South Korean crypto exchange Gopax has been adversely impacted by the recent revelations of Binance’s non-compliance with the anti-money laundering rules.
Gopax finds itself caught in a crisis following Binance’s regulatory struggles and its final decision to completely withdraw from the U.S. crypto market. There are speculations that there will be restrictions for Gopax to enter the domestic market.
Earlier this year, Binance, in an attempt to re-enter the South Korean crypto market, acquired a majority stake in Gopax. Binance’s acquisition bid has been under scrutiny by the Financial Services Commission (FSC) of South Korea, considering the U.S. Securities and Exchange Commission’s (SEC) lawsuit against the exchange. While the bu…
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