The authorities of South Korea have increased their control over crypto companies in recent years. As a result of this, the country’s government plans to adjust the legislation in the coming months to improve the effectiveness of the supervisory policy.
However, in spite of this policy tightening, Binance, the largest cryptocurrency exchange by trading volume, is exploring the possibility of resuming its operations in the South Korean market.
According to blockchain journalist Colin Wu, the company intends to acquire the Gopax platform, which is included in the list of the country’s top five trading platforms. In addition to Gopax, it includes the Upbit, Bitsum, Coinone and Corbit exchanges.
Binance originally planned to announce the purchase of Gopax at the end of December, however, the company decided to put off the announcement to early 2023.