Binance, a major cryptocurrency exchange, is reportedly in the final stages of negotiations to sell a majority stake in the South Korean exchange Gopax to the cloud service provider Megazone. The move aims to decrease Binance's current 72.6% ownership in Gopax to as low as 10%, following requests from local financial authorities to enhance governance. This decision comes after regulatory hurdles in South Korea, including the denial of a capital injection due to concerns over Binance's regulatory issues in the US. The sale of Gopax shares is part of Binance's strategy to re-enter the South Korean market, with the exchange expected to renew its real-name account contract with Jeonbuk Bank soon. Despite reaching out for comment, Binance has not responded to inquiries regarding the sale of Gopax shares. Read more AI-generated news on: https://app.chaingpt.org/news
