Overview

• South Korea’s Financial Intelligence Unit has resumed reviewing Gopax’s executive-change filing tied to Binance’s 67% stake, according to local reports.
• The review had been on hold since early 2023 over anti-money-laundering concerns linked to Binance’s U.S. legal troubles, which later culminated in a multibillion-dollar settlement and leadership changes.
• Officials are reportedly viewing the submission favorably, with potential approval that could allow Binance to regain an official foothold by the end of 2025.
• Because Korea lacks a separate mechanism to vet major shareholders of crypto exchanges, the executive-change process serves as the practical test of a new controlling party’s fitness.
• Binance acquired Gopax in 2023 as a rescue after Genesis-related losses froze GoFi customer funds, and Gopax remains one of five domestic exchanges authorized for cash-to-crypto services.