Naver's Crypto Power Grab Delayed
Bitcoin & Crypto News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Naver Financials share swap with Dunamu, the crypto exchange behind Upbit, has been delayed. The deal, initially set for late May or early June, is now expected to be voted on by shareholders on August 18th and completed by September 30th. The merger of Naver Financials payment platform with Dunamus crypto trading giant is a significant move in South Koreas finance scene, but faces challenges from regulatory approvals and the upcoming Digital Asset Basic Act. Dunamus profits are also declining due to decreased crypto trading volumes. The future of this deal hangs in the balance as regulatory green lights and market conditions will determine its success.
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