The transaction proposed by the Binance.US crypto exchange to buy the assets of the Voyager Digital broker going through the bankruptcy procedure should be suspended. About it declared Southern District of New York Attorney Damian Williams.
Authorities fear that the agreement between the companies will effectively exonerate Voyager and its employees after violating the Securities Act.
“Nothing in the Bankruptcy Code allows the courts to release the parties from liability to the state for past and future acts,” the prosecutor explained.
Williams’ statement followed an appeal by the U.S. Department of Justice in the same case.
According to the prosecutor, the asset buyout process should be frozen until all legal objections are considered and resolved.
In December 2022, Binance.US offered the highest bid for Voyager assets at $1.02 billion.
However, regulators, including the US Securities and Exchange Commission (SEC) and the New York State Department of Financial Services, opposed the deal.
During the hearing in the case, representatives of the SEC said that the US division of Binance operates an unregistered securities exchange.
Recall that in March 2023, Lookonchain experts recorded a sale of Voyager assets for ~$56 million.
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The transaction proposed by the Binance.US crypto exchange to buy the assets of the Voyager Digital broker going through the bankruptcy procedure should be suspended. About it declared Southern District of New York Attorney Damian Williams.
Authorities fear that the agreement between the companies will effectively exonerate Voyager and its employees after violating the Securities Act.
“Nothing in the Bankruptcy Code allows the courts to release the parties from liability to the state for past and future acts,” the prosecutor explained.
Williams’ statement followed an appeal by the U.S. Department of Justice in the same case.
According to the prosecutor, the asset buyout process should be frozen until all legal objections are considered and resolved.
In December 2022, Binance.US offered the highest bid for Voyager assets at $1.02 billion.
However, regulators, including the US Securities and Exchange Commission (SEC) and the New York State Department of Financial Services, opposed the deal.
During the hearing in the case, representatives of the SEC said that the US division of Binance operates an unregistered securities exchange.
Recall that in March 2023, Lookonchain experts recorded a sale of Voyager assets for ~$56 million.
Found a mistake in the text? Select it and press CTRL+ENTER
Cryplogger Newsletters: Keep your finger on the pulse of the bitcoin industry!
