South Korea FIU Resumes Binance Gopax Review After Two-Year Halt

South Korea Financial Intelligence Unit (FIU) has resumed its review of Binance acquisition of local exchange Gopax. This marks a major step toward the exchange’s return to the Korean market. The review had been on hold for nearly two years due to Binance regulatory challenges in the United States. Now, with those issues largely resolved. South Korean authorities appear ready to move forward, with approval likely before the end of 2025.

South Korea’s FIU has resumed its review of Binance’s acquisition of local exchange Gopax after a two-year pause, signaling progress toward Binance’s return to the Korean market. The FIU is reportedly reviewing Gopax’s executive change filing favorably, with approval possible by…

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Binance Return to Korea Gains Momentum

Binance, the world’s largest cryptocurrency exchange. That has acquired a 67% stake in Gopax in February 2023. It became its majority shareholder. Soon after, the company filed an “Executive Change Report” with the FIU to formalize its leadership changes. But the process came to a standstill as Korean authorities hesitated to approve the deal. Amid Binance mounting legal troubles abroad.

Those concerns centered on anti-money laundering (AML) risks. With the potential implications of Binance ownership for South Korea financial oversight framework. At the time, Binance faced multiple lawsuits and investigations in the U.S. That includes cases brought by the Securities and Exchange Commission (SEC), the Department of Justice (DOJ) and the Treasury Department.

Regulatory Risks Ease After U.S. Case Resolutions

In 2023, Binance faced major penalties and lawsuits. That includes a $4.3 billion fine for AML violations. But in 2025, the landscape changed dramatically. The SEC withdrew its lawsuit against Binance and its founder, Changpeng Zhao (CZ). While previous DOJ and Treasury actions concluded after the fines were paid. This resolution of legal risks abroad appears to have reassured South Korean authorities. Sources within the financial industry suggest that the FIU renewed review is directly linked to Binance improved global standing. 

Officials now view the exchange’s compliance risks as significantly reduced. It is opening the door for progress in Korea. An industry insider noted that while the executive change report is a routine procedure. Authorities have treated it with the same level of scrutiny as a major shareholder review for financial firms. “With all U.S. lawsuits dropped, the risks tied to Gopax’s ownership have effectively disappeared,” the source explained. “This makes it highly likely that the report will be approved within this year.”

Gopax Approval Could Mark Binance Full Reentry

The FIU favorable review signals a turning point for Binance in South Korea. The exchange has faced regulatory barriers since 2021. Gopax, currently ranked as the country’s fifth-largest crypto exchange. It could become Binance key entry point into one of Asia’s most active digital asset markets. Although South Korean law doesn’t explicitly outline procedures for screening major shareholders of virtual asset exchanges. 

The FIU has applied a cautious interpretation. It has closely examined Binance leadership and compliance record. To ensure alignment with the nation’s AML and financial reporting standards. If approval is granted, Binance will regain direct market access after years of absence. It is potentially reshaping South Korea crypto trading landscape. The move would also strengthen Gopax position by integrating Binance global liquidity and technical infrastructure.

Positive Signals for Binance and Korea’s Crypto Market

With the review now back on track, consequently, Binance and Gopax stand to benefit. For Binance, the potential approval would firstly restore its presence in a key Asian market. Furthermore, it could mean renewed investor interest for South Korea and a stronger competitive environment for digital asset services. Finally, industry watchers believe the timing aligns perfectly with improving global regulatory sentiment toward established exchanges.

As one official summarized, “This isn’t just about Gopax, it’s about South Korea signaling readiness to engage with global crypto players under clear and fair rules.” If the FIU grants final approval, Binance could be fully operational in South Korea by early 2026. That marks a significant milestone in its post regulatory recovery journey.