🚨 Time is Running Out: Reserve Your Spot in the Lucky Draw & Claim Rewards! START NOW
Learn to gain real rewards

Learn to gain real rewards

Collect Bits, boost your Degree and gain actual rewards!

New
Video Courses
Video Courses
Deprecated
Scale your career with online video courses. Dive into your learning adventure!
Learn to gain real rewards

Learn to gain real rewards

Collect Bits, boost your Degree and gain actual rewards!

New
Video Courses
Video Courses
Deprecated
Scale your career with online video courses. Dive into your learning adventure!

Binance.US-Voyager Deal Put On Hold As SEC Seeks Clarification

Binance.US-Voyager Deal Put On Hold As SEC Seeks Clarification

Several regulators are opposing Binance.US's plans to acquire Voyager Digital assets.

The Binance.US deal to purchase the assets of bankrupt crypto lender Voyager Digital for $1.02 billion is facing opposition from multiple fronts. State and federal agencies oppose the planned sale of defunct crypto lender Voyager Digital to Binance.US.

At the federal level, the US Securities and Exchange Commission (SEC) is leading the way. In its objection, US SEC claims the deal violates federal securities laws.

What is Ripple? Beginner-Friendly XRP Explainer (Animated)

Did you know?

Want to get smarter & wealthier with crypto?

Subscribe - We publish new crypto explainer videos every week!

What is Ripple? Beginner-Friendly XRP Explainer (Animated)

What is Ripple? Beginner-Friendly XRP Explainer (Animated) What is Ripple? Beginner-Friendly XRP Explainer (Animated)

According to the SEC's filing, the main issue of contention is Voyager native token VGX. It also took issue with Binance.US's plan to repay former Voyager customers in crypto. By doing so, in its opinion, Binance.US would violate "the prohibition in Section 5 of the Securities Act of 1933 against the unregistered offer, sale, or delivery after the sale of securities."

At the state level, the NYDFS, the financial watchdog in New York, has filed a separate opposition to the deal based on similar claims.

In Texas, the Department of Banking has also opposed the deal because the two companies have allegedly failed to comply with Texan law. Texan authorities allege that the two companies are not licensed in the state.

Voyager has to prove that the sale agreement does not violate securities law. In New York, the attorney general also took issue with how long it would take for customers to get repaid. Based on the original deal, Voyager customers would need to wait at least six months before Binance.US receives approval to operate in the state.

It is worth noting that a month ago, US Securities and Exchange Commission filed a limited objection to Binance.US’s Voyager acquisition deal. At that time, US SEC argued that Voyager and Binance.US failed to provide "necessary information" about the acquisition deal.

Gile K., Market Sentiment Analyst
Gile is a Market Sentiment Analyst who understands what public events may form what emotions. Her experience researching Web3 news and public market messages – including cryptocurrency news reports, PRs, and social network streams – is critical to her role in helping lead the Crypto News Editorial Team.
As an intelligent professional in public relations, together with the team, she aims to determine real VS fake news patterns, and bring her findings to anyone searching for unbiased news and events happening in the FinTech markets. Her expertise is uncovering the latest trustworthy & informative Web3 announcements to the masses.
When she's not researching the trustworthiness of mainstream stories, she spends time enjoying her terrace view and taking meticulous care of her outdoor environment.

Loading...
binance
×
Verified

$600 WELCOME BONUS

Earn Huge Exclusive Binance Learners Rewards
Rating