Binance Edges Closer to South Korea Return as FIU Resumes GOPAX Review

Core Insights - Binance is on track for a potential return to South Korea as the Financial Intelligence Unit (FIU) resumes its review of the GOPAX acquisition, which was initially announced in February 2023 [1][5][7] - The acquisition of a 67.26% stake in GOPAX is part of Binance's $1 billion Industry Recovery Initiative [1] Regulatory Context - The deal faced delays due to South Korea's cautious stance on foreign entities acquiring local exchanges, particularly in light of Binance's legal issues in the U.S. [3][4] - U.S. legal troubles, including charges against Binance and its co-founder for anti-money-laundering violations, contributed to the hesitance of Korean regulators [4] Recent Developments - The regulatory landscape has improved, with the U.S. SEC dropping its lawsuit against Binance and other legal cases being resolved, allowing the FIU to revisit the GOPAX acquisition [5][6] - Approval for the acquisition could potentially be granted before the end of 2025, re-establishing Binance in a key Asian crypto market [5][6][8]