The US Securities and Exchange Commission (SEC) and a number of other financial regulators are fiercely opposing Binance US’s acquisition of the bankrupt cryptocurrency lender Voyager Digital.
The SEC expressed doubts about the sufficiency of the disclosure statement from Binance US and expressed worries about the exchange’s financial capacity to carry out the $1 billion transaction.
The regulatory body discussed its worries with Binance US’s legal team, and the latter responded by stating that a revised disclosure statement would be submitted ahead of the next hearing on the motions.
The New Jersey Bureau of Securities claims that Binance will be free to direct the cryptocurrency in any way it sees fit, with the potential for the cryptocurrency to end up in an offshore (non-US) custodian account without the knowledge of the customer. governing bodies and enforcement agencies.
Before Binance announced plans to buy the lender, Voyager Digital declared bankruptcy in July 2022 and planned to sell its assets to the bankrupt exchange FTX.
