The US SEC, the NYDFS, and Attorney General Letitia James filed objections to Binance.US’ $1.022B bid for acquiring Voyager Digital.
In its court filing, the SEC claimed that the redistribution of assets (including VGX tokens) may violate the Securities Law. The regulatory agency alleged that the proposed sale plan failed to provide details on the security of assets on Binance.US’ platform.
Referring to recent reports about ongoing investigations into Binance, the SEC added,
“Regulatory actions, whether involving Voyager, Binance.US or both, could render the transactions in the Plan impossible to consummate, thus making the Plan unfeasible.”
Meanwhile, the New York State Department of Financial Services (NYDFS) accused Binance.US and Voyager of operating without licenses.
The NYDFS also claimed that the sale plan discriminates against New York-based customers by delaying the recovery of their assets by six months. This is because Voyager’s Binance.US lacks the permit to operate in New York. The filing submitted by the NYDFS said,
“There is no reasonable basis for discriminating against New York Account Holders in this fashion, and the Plan as proposed should not be approved.”
Attorney General Letitia James also supported the NYDFS’ objection to the $1.022B Voyager acquisition deal.
The news follows an earlier development from January when the SEC filed a limited objection to Binance.US’ plans of taking over Voyager.
Written by
Ayush Pande
Ayush Pande is a hardware, gaming, and crypto writer based in India. He's a tech enthusiast who's fascinated by the potential of blockchain technology.
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