Binance, the world’s largest cryptocurrency exchange, is making a strategic push into South Korea just months after resolving major legal battles in the United States — a move that signals the company’s efforts to strengthen its foothold in Asia as U.S. regulators tighten their grip on the crypto industry.
South Korea’s Financial Intelligence Unit has resumed its review of Binance’s bid to acquire local exchange Gopax, according to CryptoRank.
The process, which stalled for more than two years amid Binance’s legal troubles in the U.S., is expected to conclude by the end of the year. If approved, Binance would instantly gain access to one of the most active retail crypto markets in the world.
The expansion comes at a pivotal moment. Binance reached a multimillion-dollar settlement with U.S. regulators in late 2023, and its founder Changpeng Zhao stepped down as part of the deal.
With its American operations still facing heavy scrutiny, the exchange appears to be shifting focus toward Asia — particularly South Korea, where retail trading activity is intense and regulations are strict but clearly defined.
For U.S. crypto investors, Binance’s move underscores a broader trend. Global exchanges are increasingly looking abroad to sustain growth while the American regulatory environment remains uncertain under shifting political winds.
As the 2024 election cycle heats up and crypto regulation becomes a political flashpoint, Binance’s expansion could influence liquidity flows, token listings, and competitive dynamics that eventually ripple back into U.S. markets.
Binance handled $7.35 trillion in trades last year and another $3.5 trillion in the first half of this year. Its return to expansion mode, this time outside the U.S., could reshape how and where trading volume concentrates — a key signal for investors tracking global market shifts.
