South Korean financial authorities: Will monitor the progress of the Binance lawsuit, and Binance's acquisition of Gopax may be canceled

ChainCatcher news, according to Newspim, South Korean financial regulators have suspended the review of the executive change report submitted by Gopax on March 7, which contains information about the appointment of three Binance members as internal directors of Gopax. The industry expects that, due to the U.S. Securities and Exchange Commission's allegations against Binance for violating the Securities Act and its application to freeze assets, South Korean authorities are unlikely to process this change report.

In response, relevant personnel from South Korea's financial regulatory agency stated, "The acceptance of the change report is currently under internal review, so we must speak cautiously. However, it is necessary to observe the SEC's movements. Although the Special Financial Transactions Act does not include conflicts of interest for major shareholders, I understand that the Political Affairs Committee has proposed to amend the law to review large company shareholders like the Corporate Governance Act." Therefore, it is expected that the financial authorities' acceptance of the Gopax operator change report will be delayed. If Binance's acquisition of Gopax fails, the withdrawal of GoFi deposit assets may be interrupted. (source link)