Binance Continues Local Crypto Exchange Purchases: South Korea Move

Binance, the world’s largest cryptocurrency exchange, has completed its due diligence on the acquisition of South Korean crypto exchange Gopax.

According to a local agency’s report on January 2, Binance, Gopax’s acquisition due diligence regarding completed. A source familiar with the matter reported that the final steps have been taken to complete the process. Experts say the reason why Binance bought Gopax, one of South Korea’s largest cryptocurrency exchanges, is strictly regulated. Entering the South Korean market stated that it might. Sources, Binance’s Gopax 41.2% will buy its shares, but stable existing order for a management intervention they won’t expressed.

With Binance indirectly operating in the market derivative products in South Korea investor to access Whether it will open is yet to be determined. to clarity did not meet. Unlike Binance, which offers a wide range of derivative investment products to its investors, Gopax and other South Korean exchanges have a very limited range of services in this regard. According to local sources, although Gopax has offered various derivative products in the past, 2021 providing these services in stopped. Attorneys at Cha&Kwon Law Firm Kwon Oh-hoonlisting Binance’s derivatives on Gopax, regulations because of difficult may be stated.

On the other hand, experts say that Binance’s entry into the industry through Gopax is on the dynamics of the South Korean cryptocurrency industry. to various changes suggested that it might be the cause. With Binance’s entry into the industry, it is primarily known as South Korea’s largest cryptocurrency exchange. Upbit’s Strong one rival Experts, who stated that they would have to fight against the of DAXA standards as well that you can relax suggested.

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