Mirae Asset Wins Approval for Korbit Acquisition Amid Regulatory Uncertainty

South Korea's antitrust watchdog has approved Mirae Asset Group's acquisition of Korbit, the country's fourth-largest cryptocurrency exchange. This marks the first takeover of a South Korean crypto exchange by an affiliate of a financial conglomerate.

The approval comes as other South Korean securities firms are racing to acquire stakes in cryptocurrency exchanges, seeking to capitalize on the country's growing stablecoin and digital asset markets.

Naver Corp.'s plan to bring Dunamu Inc., operator of Upbit, the country's largest crypto exchange, under its control has stalled due to regulatory uncertainty over shareholder eligibility.