Impact

Coin

<ul class="news-points"> 
 <li>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.</li> 
 <li>The bid submitted by Binance to acquire Gopax has not yet been accepted by South Korea’s Financial Services Commission.</li> 
 <li>The delay in the acceptance of the acquisition bid could be considered a green light, as per analyst Jeong Hye-won.</li> 
</ul> 
According to the latest<a href="https://news.bizwatch.co.kr/article/mobile/2023/11/23/0041" target="_blank" rel="nofollow"> reports</a>, 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.&nbsp; 
Gopax finds itself caught in a crisis following Binance’s regulatory struggles and its final decision to completely <a href="https://coinedition.com/zhao-pleads-guilty-steps-down-as-binance-ceo-in-4-3bn-settlement/">withdraw from the U.S. crypto market</a>. 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, <a href="https://www.bloomberg.com/news/articles/2023-02-03/binance-returns-to-south-korea-s-crypto-market-through-stake-in-gopax-exchange" target="_blank" rel="nofollow">acquired</a> a majority stake in Gopax. Binance’s <a href="https://coinedition.com/binances-gopax-acquisition-delayed-in-south-korea-pending-sec-suit/">acquisition bid</a> 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…
The post <a href="https://coinedition.com/how-will-binances-non-compliance-with-us-laws-impact-gopax/">How Will Binance’s Non-Compliance With US Laws Impact Gopax?</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.

How Will Binance’s Non-Compliance With US Laws Impact Gopax?

Coin Edition

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