Court Decides in Voyager-Binance Case! Did Binance Get What It Wanted?

US government and regulatory agencies crypto exchange Binance Good news came to Binance from the court as we continued to squeeze.

of Binance.US of Voyager The bankruptcy judge, deciding that his $1 billion offer to buy his assets should continue, rejected the US government’s offer to suspend operations pending appeal.

US Government Request Denied by Bankruptcy Judge in Voyager-Binance.US Case

A court in New York rejected the government’s request to stop the $1 billion deal, saying the delay would hurt customers.

US Attorney Damian Williams argued that the deal should be amended or canceled because it sought to effectively launder Voyager and his staff for tax or securities law violations.

But New York Southern District magistrate Michael Wiles said the deal he previously approved did not do anything like that, and waiting any longer would hurt Voyager customers who have been unable to access their crypto since it was declared bankrupt in July 2022.

Wiles added that the provisions in the agreement “do not prohibit any regulatory action, including actions to stop the sale and distribution of cryptocurrencies envisioned by the plan.”

Pursuant to a separate agreement agreed by the company, the Binance.US acquisition, which was previously scheduled to take effect on March 15, has been extended until March 20.

Making a statement following the decision, Binance.US expressed its satisfaction with the decision and reiterated its commitment to serve the needs of its customers in the US market. The company also noted that the decision will enable it to move forward with its plans to expand its operations.

The decision represents an important victory for Binance.US and marks an important milestone in its efforts to expand its presence in the US market.

*Not investment advice.