Woofun AI reports that South Korean regulators have authorized Mirae Asset Consulting, a subsidiary of Mirae Asset Group, to purchase 92.06% of shares in cryptocurrency exchange Korbit for approximately 133.4 billion won (about 9.8 million USD). This deal represents the inaugural acquisition of a virtual asset platform by a traditional financial institution in South Korea.

The Korea Fair Trade Commission stated that the merger poses no exclusionary risk to securities or asset management sectors, citing Korbit's minimal 0.5% market share compared to Upbit's 69% and Bithumb's 28%. Regulators concluded the transaction will not significantly alter the competitive landscape for digital asset ETFs.