Mirae Asset Approved to Acquire 92.06% of Cobit in Historic Finance-Crypto Merger

According to the Fair Trade Commission statement, on July 9, Mirae Asset Consulting was approved to acquire a 92.06% stake in Cobit cryptocurrency exchange for approximately 133.4 billion won. The regulator found no significant risk of market competition restrictions, noting that Cobit holds only 0.5% of the domestic crypto exchange market by trading volume. This marks the first acquisition of a crypto exchange by a traditional financial group's subsidiary since South Korea's 2017 financial-crypto separation policy.
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