South Korean Lawmaker Presses Regulator on GOPAX Compensation Post-Binance Deal
- Lawmaker urges FSC to ensure full GOPAX user compensation after service disruption.
- Binance gains final approval for GOPAX acquisition, marking its return to South Korea.
- About $70M in user repayments completed, with remaining compensation still pending.
A South Korean lawmaker is pressing the Financial Services Commission (FSC) to hold Binance accountable for fully compensating users of the GOPAX exchange. Democratic Party lawmaker Min Byeong-deok raised the issue during a National Assembly audit, questioning FSC Chairman Lee Eog-weon about the incomplete repayments following GOPAX’s service disruption.
The core issue stems from GOPAX’s exposure to the bankrupt U.S. firm Genesis Global Capital, which froze user funds. Min estimates the outstanding damages range from 10 billion to 50 billion won (approx. $7.2 million to $36.2 million).
Lawmaker Questions Binance…
Read The Full Article South Korean Lawmaker Presses Regulator on GOPAX Compensation Post-Binance Deal On Coin Edition.
Read More
A $10 Million XRP Purchase Could Send Prices to $15 — Analysts Warn of Shrinking Supply on Binance
Ocean Protocol Denies Token Theft Allegations as ASI Alliance Rift Deepens
South Korean Lawmaker Presses Regulator on GOPAX Compensation Post-Binance Deal
- Lawmaker urges FSC to ensure full GOPAX user compensation after service disruption.
- Binance gains final approval for GOPAX acquisition, marking its return to South Korea.
- About $70M in user repayments completed, with remaining compensation still pending.
A South Korean lawmaker is pressing the Financial Services Commission (FSC) to hold Binance accountable for fully compensating users of the GOPAX exchange. Democratic Party lawmaker Min Byeong-deok raised the issue during a National Assembly audit, questioning FSC Chairman Lee Eog-weon about the incomplete repayments following GOPAX’s service disruption.
The core issue stems from GOPAX’s exposure to the bankrupt U.S. firm Genesis Global Capital, which froze user funds. Min estimates the outstanding damages range from 10 billion to 50 billion won (approx. $7.2 million to $36.2 million).
Lawmaker Questions Binance…
Read The Full Article South Korean Lawmaker Presses Regulator on GOPAX Compensation Post-Binance Deal On Coin Edition.
Read More
A $10 Million XRP Purchase Could Send Prices to $15 — Analysts Warn of Shrinking Supply on Binance