The South Korean financial regulator has reportedly put on hold Binance’s acquisition of a local crypto platform citing the SEC lawsuit.
South Korean regulator halted Binance’s acquisition of a local crypto platform due to U.S. SEC’s enforcement action.The South Korean financial regulator has reportedly put on hold Binance’s acquisition of a local crypto platform due to the enforcement action against the former by the U.S. Securities and Exchange Commission .published in a South Korean newspaper the Financial Service Committee has halted Binance’s acquisition of a local crypto trading platform named Gopax, now that the U.S.
In its evaluation of the Gopax deal, the FSC stated that it was extremely difficult to accept the acquisition request at this time, considering the purported allegations of law breaches and subsequent SEC efforts to freeze Binance.US assets. Following the debacle surrounding the FTX exchange and the digital assets financial services firm Genesis going bankrupt, Gopaxthe withdrawals of principal and interest payments from its decentralized finance service GoFi in November 2022.
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