Investors frustrated with delays in Gopax's reporting and compliance changes due to Binance?

Binance, the world’s largest cryptocurrency exchange, has been sued by the U.S. Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) for alleged securities law violations, delaying the finalization of its acquisition of South Korea’s Gopax. Gopax had moved ahead with its risk assessment in May and had received a positive response from a partner bank offering a KRW account. Partner attorney Kwon Oh-hoon explained, “In the special laws, legal risks of major shareholders are not specified as a reason for non-reporting, so there is no reason for GoPax not to report to the financial authorities under the current law.” (June 13, 2023, DigitalToday)
#Binance #AmidstInvestigation #Gopax #Gopie #FinancialRegulatoryCommission #Reporting #Compliance #Amendment #SpecialFinancialLaw

URL: Is Binance to blame? Investors frustrated with delays in Gopax’s reporting and compliance changes due to Binance?