The SEC is suing Binance.US for its acquisition of Voyager, claiming securities violations
Key Points: According to court documents from February 22, both the US Securities and Exchange Commission and the New York State government objected Voyager’s $1 billion sale to Binance.US.
Voyager was accused of illegally operating in New York by the New York State Attorney General and the New York Department of Financial Services.
The Securities and Exchange Commission of the United States objected at Binance.US spending $1B to repurchase insolvent lending platform Voyager. According to court documents, on February 22, both the US Securities and Exchange Commission and the New York State government objected Voyager’s $1B sale to Binance.US. The Securities and Exchange Commission stated that the Binance.US-Voyager transaction appears violate US law regarding investor remuneration. Voyager’s VGX token, which is a security, is a transfer connection and securities offering. In January, the organization rejected the arrangement and expressed concern about Binance’s financial stability. The committee said that Binance may be poised to pay a fine to the US authorities for prior errors, which might limit its capacity to pay for the transaction.Moreover, the New York Department of Financial Services and the New York State Attorney General also filed separate objections saying that Voyager was operating unlawfully in the state. This is the latest action taken by the New York government and the organization to pursue the cryptocurrency industry. Binance bought the firm after FTX declared bankruptcy in December. The original sale of the firm to FTX was in November. However, Binance purchased it. We encourage you to do your own research before investing.Join us to keep track of news: https://linktr.ee/coincuChubbiCoincu NewsTags: acquisitionBinancebinance usBlockchainVoyager