According to Blockmedia, South Korea’s Fair Trade Commission (KFTC) officially approved on Thursday the acquisition of Korbit’s 92.06% majority stake by Mirae Asset Consulting, a subsidiary of Mirae Asset Group, for 1334 billion won. The KFTC believes that, given Korbit’s current market share of 0.5%, the deal poses no antitrust concerns. This is the first time a major South Korean traditional financial group has directly acquired a cryptocurrency exchange, and Mirae Asset Group will formally enter the crypto trading business; Korbit is one of South Korea’s five fully licensed cryptocurrency exchanges.