US Securities and Exchange (SEC) official, Binance.US disclosed that the exchange operates an unregistered securities exchange in the United States and that staff believe the sale of VGX tokens by Voyager Digital violates federal securities laws.
VoyagerSpeaking at a bankruptcy hearing to determine whether to sell Binance.US, SEC Senior Litigation Attorney William Uptegrove responded to New York Southern District Bankruptcy Court Judge Michael Wiles, who said at the hearing he provided little guidance or detail about the SEC’s objection to the Voyager sale. He said he gave
“SEC staff believe that the offering and sale of VGX tokens is a securities transaction based solely on facts and conditions currently known to staff. Staff also believe that Binance.US operates an unregistered securities exchange in the United States.”
Official, SEC He underlined that the views of his staff do not necessarily reflect the views of the five commissioners at the head of the agency. The official did not comment on whether there were any enforcement actions in connection with the SEC’s statement.
“The Commission has not made any determinations on either of these issues. The beliefs of the staff do not represent the opinion of the commission.”
Usually, an enforcement action by the SEC is initiated by staff, but a majority of the commissioners must vote in favor to proceed.
Koinfinans.com As we reported, a Binance.US spokesperson commented, “It is regrettable that an SEC staff member has made claims that platforms like Binance.US and ours operate an unregistered exchange without specifying the assets listed on our exchange that the SEC considers securities.”
“Together with others in the industry, we are committed to constructive dialogue with regulators and to support a comprehensive regulatory framework drawn up and adopted by Congress to enable continued innovation in the United States.”
The SEC official’s statement is not far from the comments of the like-minded president, Gary Gensler. The President also believes that many exchanges should serve as “stock exchanges.”
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