Binance Purchase of GOPAX Cleared After Two Years of Review

South Korean authorities have approved Binance’s acquisition of GOPAX after more than two years of review, paving the way for the world’s largest cryptocurrency exchange to re-enter the local market.

“We are announcing that we have received official approval for the change of the board of directors at GOPAX,” the company said in a statement to Bloomberg News. “We are currently working closely with Binance, our majority shareholder, to determine the next steps.”

Binance did not immediately respond to requests for comment. The approval was first reported by the Maeil Business Newspaper earlier Thursday.

Binance acquired a majority stake ...