How a US Settlement Unlocked Binance’s $4.3B Path Back into South Korea

Binance‘s acquisition of Gopax is finally complete, a direct consequence of the exchange resolving its high-stakes legal disputes in the United States.

South Korea’s Financial Intelligence Unit granted its approval after a two-year delay, a move local reports directly attribute to Binance’s $4.3 billion settlement with the US Department of Justice and SEC.

The regulatory body had previously hesitated to approve the change in Gopax’s leadership, citing potential money laundering risks. With those major compliance issues now addressed, the last major obstacle was removed.

This approval formally concludes the takeover process that began in February 2023 and strategically re-opens the South Korean market for Binance, allowing it to officially return after closing local operations in 2021.