The South Korean Financial Services Commission (FSC) is monitoring Binance's legal battle, which has delayed the company's acquisition of Gopax due to a delay in filing a business transfer report. The US SEC has filed a lawsuit against Binance for violating securities laws and has requested asset seizures. Binance is also under investigation for suspected violations of anti-money laundering laws and unregistered securities trading support.
The FSC is withholding approval of Gopax's executive appointments, which were included in the report. If the acquisition falls through, it could affect the withdrawal of assets from Gopax's high-yield deposit product, Gopai. Despite the asset seizure request against Binance, there is unlikely to be any delay in the repayment of Gopax's high-yield deposit product.
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