the largest cryptocurrency exchange in the world. Binance US is a regulated cryptocurrency exchange in the US that offers trading in several cryptocurrencies, including Bitcoin, Ethereum, and Litecoin.
in recent months, regulatory scrutiny has been a serious issue for Binance US and its affiliates. Some regulatory organizations, including the SEC, are concerned about Binance’s business operations and compliance to U.S.. laws and regulations, including the Commodities Futures Trading Commission (CFTC) and the New York State Department of Financial Services (NYDFS).
It seems that there are several regulatory agencies that have raised concerns about the deal between Voyager Digital and Binance US. The objections include concerns about the financial viability of Binance US, as well as potential legal issues related to fraud charges. The Federal Trade Commission, the Texas State Securities Board, and the Texas Department of Banking are among the regulatory agencies that have filed objections. The U.S. Attorney for the Southern District of New York and the state securities regulator in New Jersey have also expressed concerns about the deal.
Sec objection Binance crypto exchange
The SEC’s objection regarding the VGX token and Binance US as an unregistered securities exchange could potentially complicate the deal between Binance US and Voyager Digital. It remains to be seen how this will be resolved and whether the deal will still proceed as planned.
According to the report, Judge Michael Wiles was not convinced by the SEC’s objection as the SEC didn’t take an official position on the matter. Instead, the staff at the Commission “believed” Voyager and Binance US might be violating securities laws.
In a recent development, a bankruptcy judge has approved Binance US’ crypto exchange plan to purchase the assets of Voyager Digital, despite objections from the US Securities and Exchange Commission (SEC). The deal is structured so that Binance US will take over the distressed assets and then handle the process of returning money to Voyager’s customers. The SEC initially filed an objection to the deal, citing concerns about the financial viability of Binance US’s business and the potential violation of securities laws.
However, the judge dismissed the SEC’s objections, citing the lack of an official position from the Commission and noting that the objections did not present sufficient evidence to block the deal.The plan is for Binance US to then manage the return of money to Voyager’s customers