Binance Considers Withdrawing From Voyager Agreement After SEC Pressure!

bankrupt cryptocurrency While the bankruptcy process of its platform Voyager continues, the US arm of the world’s largest cryptocurrency exchange Binance Binance US in February Voyager Digitalannounced that it had signed an agreement to purchase the assets of .

After this statement cryptocurrencies The SEC opposed the Binance US-Voyager agreement, claiming that it was unlawful and violated securities laws.

ReutersAccording to the news of , the judge in the bankruptcy case that took place yesterday investigated the reasons for the SEC’s objections.

Asking SEC’s attorney William Uptegrove about the reason for the objection, the judge asked the lawyer who used vague statements. “We cannot take a position at this point. The SEC is a deliberative agency, and this process is a non-public process under federal law.” got the answer.

The US bankruptcy judge Michael Wiles, who did not find the answer of the SEC’s lawyer sufficient, said:

“It is important for the SEC to negotiate, but if there are reasons to be worried about the Binance US-Voyager deal, I need to hear the reasons and the details of those concerns.”

Judge Michael Wiles will hear the continuation of the ongoing debate over Voyager’s bankruptcy plan today.

Citing the news that the bankruptcy judge is questioning the reason for the SEC’s objections, Binance CEO CZ, referring to the Voyager deal, said, “Maybe we should withdraw?” commented.

Maybe we should pull out? https://t.co/7t89kfB5Qr

— CZ 🔶 Binance (@cz_binance) March 3, 2023

Among the assets of SEC Voyager objecting to the Voyager-Binance US deal VGX claims that the token sale falls within the scope of securities and violates securities law.

Even if the Binance US-Voyager deal is approved by bankruptcy judge Michael Wiles, the sale of Voyager’s assets will remain on hold until final approval is received from the SEC and the United States Foreign Investment Committee (CFIUS).