What's Hot

    First Citizens to Buy Silicon Valley Bank

    March 27, 2023

    Nasdaq Looking to Launch Crypto Custody Services in Q2 2023

    March 27, 2023

    Africa Moving to Crypto as Alternative to US Dollar

    March 27, 2023
    Facebook Twitter Instagram
    Facebook Twitter Instagram
    The Bull's GazetteThe Bull's Gazette
    Members Area
    • News
      1. Markets
      2. Policy & Economy
      3. Business
      4. Tech
      Featured

      First Citizens to Buy Silicon Valley Bank

      News March 27, 2023
      Recent

      First Citizens to Buy Silicon Valley Bank

      March 27, 2023

      Nasdaq Looking to Launch Crypto Custody Services in Q2 2023

      March 27, 2023

      Africa Moving to Crypto as Alternative to US Dollar

      March 27, 2023
    • Features
      • Opinion
    • Research
      • Publications
      • Market Analysis
      • Contribute
    • Finance & Crypto Guides
    • Consultation
    • Membership
    • Store
    The Bull's GazetteThe Bull's Gazette
    Home»News»Business»Binance Set to Re-enter South Korea with Exchange Acquisition
    Business

    Binance Set to Re-enter South Korea with Exchange Acquisition

    Anietie DavidBy Anietie DavidJanuary 3, 2023No Comments2 Mins Read
    Binance Set to Re-enter South Korea with Exchange Acquisition
    Share
    Facebook Twitter LinkedIn Pinterest Email

    Binance reported to re-enter South Korea soon with the acquisition of Gopax, one of the largest exchanges in the country. The community fears it will hurt crypto, even more when Binance goes down.

    Binance is reportedly acquiring South Korean exchange Gopax, while Hong Kong plans to give retail investors exposure to cryptocurrencies. South Korean publication Decenter reported that Binance has completed due diligence to acquire Gopax. It is one of the largest stock exchanges in South Korea. The takeover was supposed to be announced before Christmas, but was delayed due to final valuation talks.

    Binance ceased operations in South Korea in January 2021 due to low usage and low transaction volume. The exchange has also faced regulatory challenges from local authorities. The exchange, run by Changpeng Zhao, attempted to re-enter the market but was not given a green flag to enter the market directly due to issues such as money laundering and investor protection. However, the team reportedly found a way out by acquiring a 41.2 percent stake from Gopax’s largest shareholder, Lee Jun-hang.

    With Binance on an aggressive takeover spree, the community fears that if the stock market falls, it will hurt the cryptocurrency and more. There is negative sentiment between Changpeng Zhao and Binance.

    Hong Kong Plans to Widen Trading to Retail Investors 

    Hong Kong regulators plan to expand cryptocurrency trading to retail investors. According to the South China Morning Post, the Securities and Futures Commission (SFC) will explore ways to allow retail investors to participate in virtual asset trading.

    With this development, the growth of Hong Kong retail investor exposure to cryptocurrencies could skyrocket. Brokers and money managers are preparing to woo the biggest retail investors. Robert Lui, Head of Digital Assets at Deloitte Hong Kong said that they have seen many local brokers and fund managers come to them for advice on licensing requirements under the new regulatory regime.

    Binance CZ Binance Hong Kong South Korea
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email
    Previous ArticleBitcoin Core Developer Loses $3.5M Bitcoin in Hack Exploit
    Next Article Dogecoin Foundation Introduces New Development Plan
    Anietie David

    Anietie has worked in the blockchain industry for three years, gaining experience in blockchain technology, cryptocurrencies, DeFi, and NFTs. As a seasoned content writer, he is passionate about creating effective content strategies for blockchain brands. In addition to content writing, he also has a strong interest in front-end development. When he's not working, he spends his time reading horror novels or playing CODM.

    Related Posts

    Binance-Voyager Deal to go Without Holdings, NY Judge Rules

    March 16, 2023

    Binance CEO Announces Recovery Funds Conversion from BUSD to ‘Native Crypto’ 

    March 14, 2023

    Binance Denies Claims of Improper Use of $1.8B of Users’ Funds

    February 28, 2023
    Add A Comment

    Leave A Reply Cancel Reply

    Top Posts

    New Crypto Mining Bill in Russia Mandates Earnings Reports

    March 10, 2023

    India Pushes Anti-money Laundering Regulation for Crypto Transactions

    March 8, 2023

    Zambia Explore Crypto Regulatory Framework 

    February 20, 2023

    Our best content, straight to your inbox.

    Disclaimer

    Capital at risk. Content on this website does not constitute financial advice. Please do your due diligence before making any investment.

    Company
    Company

    At the forefront of news and analysis for emerging markets, business, crypto and tech - TBG is redefining financial information through resources for next-generation economics.

    Facebook Twitter Instagram LinkedIn TikTok Discord
    Links
    • About
    • Contribute
    • Advertise
    • Careers
    • Membership
    • Investor Relations
    • Frequently Asked Questions

    TBG Newsletter

    © 2023 The Bull's Gazette.
    • Terms and Privacy
    • Contact Us

    Type above and press Enter to search. Press Esc to cancel.