The world’s largest crypto exchange Binance’s purchase of South Korean exchange GOPAX has been stopped.
A problem arose in South Korea after the lawsuit filed against Binance by the US Securities and Exchange Commission (SEC). Binance’s South Korea-based cryptocurrency exchange GOPAX acquisition plans delayed due to SEC litigation.
Korea Financial Service Committee (FSC) In a statement made by Binance and GOPAX, the US-based accusations of violations of securities laws continue. that it is very difficult to confirm the purchases stressed.
The FSC is also particularly concerned about the US government’s seizure of Binance’s assets. that GOPAX may affect purchases was put forward.
FSC executives sued the SEC it is important to consider While emphasizing that, he made the following statements in the continuation of the statement:
It would be prudent to say that the report was reviewed internally.
In November 2022, Gopax, FTX the collapse of the crypto exchange and of Genesis bankruptcy then stopped withdrawals of principal and interest payments from the decentralized financial service GoFi. Binance, who took advantage of this collapse, after 2 years Desiring to enter the South Korean market last February Acquired majority stake in Gopax.
But it seems that the coming from the SEC pressures and the cold war that has been going on for a whileIt will also affect Binance’s global investments.