SEC Officials Lodge Objections to Binance.US
Binance.US operates an unregistered securities exchange, according to SEC staff. Senior counsel William Aptegroov testified at hearings into the Voyager Digital bankruptcy, CoinDesk reports.
A regulator spokesperson also said that the Commission staff suspects securities-law violations in the sale of the Voyager token (VGX).
“The staff believes — based solely on the facts and circumstances currently known — that the offer and sale of VGX tokens have the attributes of a securities transaction. We also believe that Binance.US operates an unregistered securities exchange in the United States”, said the official.
He noted that the SEC staff’s views do not necessarily reflect the agency’s position. The Commission has not drawn any conclusions on these matters, Aptegroov clarified.
“It is regrettable that an SEC staffer is making accusations without listing the assets from the exchange’s listing that the agency regards as securities. Along with other industry representatives, we remain committed to constructive dialogue with regulators and support Congress in developing a comprehensive regulatory framework to support innovation in the United States”, commented a Binance.US spokesperson.
Voyager Digital representatives stated that they do not agree with the SEC staff’s position regarding VGX.
“That statement [Aptegroov’s] came as a surprise”, noted Mark Renci, the company’s financial adviser.
According to him, Voyager provided the regulator with information about the token in 2021 and, therefore, could have considered the matter closed.
In December 2022, the platform offered the highest price for Voyager’s assets. However the deal was opposed by the SEC and the New York State Department of Financial Services.
In March 2023, during hearings, Judge Michael Wiles demanded explanations from the Commission of its position.
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