iBNB

<ul><li>Binance is in talks to reduce its majority stake in South Korean GOPAX amid regulatory concerns.</li><li>GOPAX&#39;s acquisition by Binance in 2023 faces approval issues from South Korea&#39;s FSC, citing AML compliance worries.</li><li>The exchange acknowledges early-stage discussions to cut GOPAX stake, and pledges commitment to resolving regulatory concerns with the FSC.</li></ul>Binance, the world&#39;s largest cryptocurrency exchange by trading volume, is in talks to <a href="https://dailian.co.kr/news/view/1323207" rel="noopener noreferrer nofollow">reduce</a> its stake in South Korean crypto exchange GOPAX. The move comes as Binance faces regulatory scrutiny in the United States and other countries.Crypto exchange Binance <a href="https://www.bloomberg.com/news/articles/2023-02-03/binance-returns-to-south-korea-s-crypto-market-through-stake-in-gopax-exchange?leadSource&#61;uverify%20wall" rel="noopener noreferrer nofollow">acquired</a> a majority stake in GOPAX in February 2023, but the deal has not been approved by South Korea&#39;s Financial Services Commission (FSC). The FSC has expressed concerns about Binance&#39;s compliance with anti-money laundering (AML) regulations.In a <a href="https://www.news1.kr/articles/5306342" rel="noopener noreferrer nofollow">statement</a>, Binance said that it is &#34;in early-stage discussions&#34; about reducing its stake in GOPAX. The company said that it is &#34;committed to working with the FSC to resolve any outstanding issues.&#34;The news of Binance&#39;s plans to reduce its stake in GOPAX has sent shockwaves through the South Korean crypto community. GOPAX is one of the five fully registered crypto exchanges in South Korea, and its closure would be a major blow to the industry.Read full article at<a href="https://cryptotale.org/binance-to-reduce-stake-in-south-korean-crypto-exchange-gopax/" rel="noopener noreferrer nofollow"> CryptoTale.</a>

Binance to Reduce Stake in South Korean Crypto Exchange GOPAX

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