GOPAX to Renew Registration, Binance Stays as Main Investor
CryptoNewsTerminal Staff12 Sep, 2024
GOPAX to Renew Registration, Binance Stays as Main Investor
GOPAX, a South Korean cryptocurrency exchange, is preparing to renew its registration as a virtual asset operator with the Financial Intelligence Unit (FIU) of the Financial Services Commission by the 13th. Despite initial expectations that MegaJohn, after becoming GOPAX's largest shareholder, would submit the renewal application, GOPAX has opted to maintain its current shareholding structure. Binance, with a 67.45% stake, remains GOPAX's largest shareholder, despite being asked by authorities late last year to reduce its stake to less than 10%. MegaJohn, a domestic company, expressed interest in acquiring Binance's stake in GOPAX, but negotiations have yet to be finalized. GOPAX officials stated that the acquisition contract with MegaJohn is still undecided.
