VGX Token

<ul><li>U.S SEC objected to Binance’s Voyager Digital acquisition.</li><li>SEC involvement in cryptocurrency activities is growing.</li></ul>The New York and Federal financial regulators have rejected the largest crypto exchange Binance’s $1.2 billion assets acquisition of bankruptcy cryptocurrency lender Voyager Digital. According to a 22nd February <a href="https://cases.stretto.com/public/x193/11753/PLEADINGS/1175302222380000000121.pdf" rel="noopener noreferrer nofollow">document</a>, regulators believed it might be discriminatory and illegal.Binance U.S resubmitted its bid on Voyager after FTX filed for Chapter 11 bankruptcy on November 2022, which <a href="https://thenewscrypto.com/ftx-won-voyager-digital-assets-acquisition-against-binance/" rel="noopener noreferrer nofollow">won the crypto lender assets</a> acquisition against Binance on September 2022. And this is not the first time the Securities and Exchange Commission (SEC) rejecting the cryptocurrency exchange’s Voyager acquisition. Earlier in January the U.S SEC set “Limited Objection” due to inadequate information.This new action comes as a result of the SEC’s emerging involvement in the crypto industry. However, the regulators stated in the document that, “this objection to final approval of the adequacy of disclosures in the Debtors”.Also, SEC noted in the court filing that,<blockquote>The transactions in crypto assets necessary to effectuate the rebalancing, the re-distribution of such assets to Account Holders, may violate the prohibition in Section 5 of the Securities Act of 1933 against the unregistered offer, sale, or delivery after the sale of securities.</blockquote>Further, the Securities and Exchange Commission’s investigation into alleged unregistered security sales led the crypto exchange <a href="https://thenewscrypto.com/kraken-agreed-sec-charges-shut-down-its-staking-service/" rel="noopener noreferrer nofollow">Kraken to shut down</a> its staking service to U.S customers.

Binance’s $1B Voyager Deal Receives Opposition From SEC

TheNewsCrypto

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