The $1 billion acquisition deal between vvBinance and Voyager Digital has been challenged by the US Securities and Exchange Commission (SEC) and the New York Department of Financial Services (NYDFS) for allegedly illegal and discriminatory.
Binance’s US subsidiary Binance.US has agreed to buy bankrupt crypto lending platform Voyager Digital, Coindesk reported on February 23. SEC and NYDFS by has been objected to reported. Institutions of the agreement illegal between customers and discrimination claimed that he might have done so.
The SEC states that the bankrupt platform is obligated to reimburse its customers and that the current purchase agreement at various points the law breach He suggested he could. Corporation Voyager’s native token of VGX exemplified in the document in which he declared one of the possible violations, referring to the sale of
According to the SEC statement, Voyager will need to sell assets during the redemption process, but the VGX token is within the US legislature. an unregistered security If Binance.US buys Voyager, the stock market unregistered sale of securities will have worked.
The institution continues with the statement that the provisions in Binance.US’s reimbursement plan applicable that it might be convincing evidence He stated that it should offer a counter-argument that Binance money laundering And corruption prepared to pay fines for violations of media reports showed.
on the other hand NYDFS And Attorney General Letitia Jamesopposed the acquisition agreement on the grounds that Voyager was illegally serving customers in the US. Appeals from James and NYDFS, in case of acquisition of Voyager 6 months assets of US customers throughout they can’t get back was put forward. This is a case against US creditors. injustice claimed to be.
Many actors from the crypto money markets and traditional financial markets oppose the purchase agreement. already waiting for stated. Popular server at the beginning of the year Jim CramerAfter the SEC’s acquisition of Binance will go bankrupt considering the deal willful aspect sabotage he had claimed.