South Korea’s Financial Intelligence Unit (FIU) has resumed its review of Binance’s acquisition of the local exchange Gopax after a two-year pause, signaling positive momentum for Binance’s re-entry into the Korean market.

The FIU is currently reviewing the executive change filing for Gopax favorably, with approval potentially expected by the end of the year.

Binance purchased a 67% stake in Gopax in February 2023, but the process was delayed due to its U.S. regulatory issues and legal proceedings.

With recent regulatory hurdles cleared-including payment of fines, resolved lawsuits, and compliance improvements-the FIU sees the leadership transition at Gopax as a key requirement for Binance’s operating permit.

Notably, South Korea has no separate procedure for vetting major shareholders in crypto exchanges, focusing instead on corporate filings and executive roles.

This development could open the door for Binance’s full return to a highly regulated and competitive Asia-Pacific market, where AML/KYC and corporate governance standards are among the region’s strictest