South Korean authorities have resumed the review of the acquisition of the local cryptocurrency exchange Gopax by CEX.

[The South Korean authorities have resumed the review of CEX's acquisition of the local encryption exchange Gopax] According to market news, after a delay of more than two years, the South Korean authorities have resumed the review of CEX's acquisition of the local encryption exchange Gopax. This indicates that CEX may soon return to the South Korean market after closing its local operations in 2021. The Financial Intelligence Unit (FIU) of South Korea is currently evaluating the formal report submitted by Gopax regarding the replacement of core executives and is maintaining a proactive review attitude. It is expected that the changes concerning CEX and Gopax will be approved as early as the end of 2025. Under the current legal framework in South Korea, there is no separate qualification review for major shareholders of cryptocurrency exchanges. Therefore, this executive change report is essentially viewed as a review of the qualifications of the major shareholders of CEX. In March 2023, after CEX acquired 67% of Gopax's shares, becoming its largest shareholder, CEX and Gopax submitted their executive change report for the first time. Subsequently, local regulatory authorities suspended the approval process on the grounds of potential anti-money laundering risks.