The move by Yuan An to enter South Korea has met opposition from the country's regulatory authorities.BinancePay marched into France, while BNB attempted to resist selling pressure
- The move by Yuan An to enter South Korea has met opposition from the country's regulatory authorities.
- BinancePay marched into France, while BNB attempted to resist selling pressure.
According to Chosun in South Korea, BNB acquired a 50% stake in the local cryptocurrency exchange Gopax on February 23. This is part of the strategy of Jeon An to establish a foothold in South Korea. In addition, Leon Gong, former representative of Coin An Asia Pacific, recently took over as the new CEO of Gopax.
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Despite these carefully considered measures, South Korean financial authorities remain concerned about the takeover of the currency. It is said that this move will pave the way for money laundering and financial crime through unauthenticated tokens listed on exchanges. on dit:
If finance starts operating exchanges in the country, it will be difficult to properly manage and supervise. There is also a possibility of local capital outflows through the issuance of several unverified overseas listed currencies
Coin security faces regulation
The publication also revealed that after Binance's involvement led to changes, South Korean financial authorities have reviewed Gopax's alternative regulatory measures. This minor issue may be the main obstacle for Binance, but it must comply with regulatory requirements to maintain operations in the country.
the republic of koreathe republic of korea Ingenico Binance Pay
How does BNB react?
BNB is striving to bypass the resistance level of this week's $317 price range. On the other hand, the existing selling pressure is also limited, allowing prices to remain above the $300 price range. Despite price results, BNB's average coin age index continues to rise, confirming that most investors hold their coins at the time of publication.
Realistic or not, this is the BNB market value in BTC terminology
The MVRV ratio of BNB also confirms that most buyers are in a profitable state. Its trading volume has gradually decreased over the past two days, confirming that investors are still watching in the hope of gaining clearer direction.
Since mid February, the market value has gradually declined, confirming the existence of a significant outflow of liquidity. However, the market value does show some support within the range of $48.13 billion.
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