Binance has reported the acquisition of Gopax to the Korean financial regulator
On March 7, it was reported that Binance had completed the final stage before the acquisition of Gopax, which was to declare to the Korean financial regulator. Gopax submits the change report of the virtual asset operator to the Financial Intelligence Unit (FIU) of the Korea Financial Services Commission. The report pointed out that if FIU accepted the change report, it would be the first time that the global currency market trading platform entered the Korean market through the Korean won trading platform. According to the specific financial information law, when the company’s representative or director changes the registration, a change report must be submitted.
Interpretation of this information:
The message on March 7th reported that Binance was in its final stages of the acquisition of Gopax. To complete the acquisition, Gopax had to submit a change report to the Financial Intelligence Unit of the Korea Financial Services Commission, declaring Binance as the virtual asset operator. If the report is accepted, it will mark the first time that a global currency market trading platform has entered the Korean market through the Korean won trading platform.
Given that a change report must be submitted whenever a company’s representative or director changes registration, this report marks an essential step towards Binance’s acquisition of Gopax. Once it is complete, Binance will have successfully established a presence in the Korean market, allowing it to expand its reach and user base.
The significance of this acquisition cannot be overstated. Gopax is currently one of Korea’s leading cryptocurrency exchanges, with a user base of over a million users. Furthermore, the exchange has gained numerous partners and investors in recent years, making it an attractive acquisition for Binance. As a result, this acquisition represents a significant step forward for Binance as it continues to expand and establish itself as a globally recognized cryptocurrency exchange.
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