SEC and NYDFS oppose sale of Voyager Digital assets to Binance.US

SEC and the New York Department of Financial Services (NYDFS) выступили против покупки активов обанкротившегося криптовалютного брокера Voyager Digital американским филиалом Binance.

In the SEC’s view, the $1.02 billion deal could violate securities laws because it contemplates paying down debts to former Voyager clients, including in the native VGX token.

“Transacting cryptoassets needed for rebalancing and redistributing such assets among account holders could violate the prohibition on unregistered offers and sales of securities,” the agency said.

The regulator also pointed to upcoming fines from Binance for past anti-money-laundering and bribery law violations as evidence that the deal could be ‘impossible to complete’.

In turn, NYDFS and генеральный прокурор Летиция Джеймс stated that Voyager illegally serves clients in the state.

NYDFS added that the plan discriminates against New York residents, as they will not be able to recover cryptocurrency for six months while Binance.US awaits state approval.

Earlier in January, the SEC had already opposed the deal, questioning Binance.US’s ability to finance it. Voyager called these claims ‘hypocritical’.

On February 22, the majority of Voyager’s creditors approved the deal to sell assets to Binance.US.

Earlier, ForkLog reported that the U.S. Federal Trade Commission opened an investigation into the leadership of the bankrupt cryptocurrency broker for unfair and misleading marketing.

Back in December 2022, Binance’s U.S. unit offered the highest price for Voyager Digital assets — $1.002 billion and another $20 million in potential positive revaluation.

Clients of the broker will be able to recover a portion of their funds via Binance.US accounts.

Partners expect the deal to close and payments to begin in March.