SEC Blocks Binance.US‘ $1 Billion Bid for Voyager Digital Assets
-The U.S. Securities and Exchange Commission (SEC) has filed an objection to Binance.US‘ $1 billion bid for the assets of bankrupt crypto lending firm Voyager Digital.
– The SEC believes that some aspects of the asset restructuring plan of Binance.US‘ acquisition could breach securities law, such as insufficient provision of safeguards to ensure customer assets are not transferred off the Binance.US platform.
– The SEC is calling for Binance.US to address these issues by providing information regarding who has access to customer assets and necessary controls after the deal is finalized.
SEC Files Objection To Binance US Bid For Voyager Assets
The United States Securities and Exchange Commission (SEC) has objected to Binance.US‘ move to acquire over $1 billion of assets belonging to the defunct cryptocurrency lending firm Voyager Digital. According to a Feb 22 filing submitted to the U.S Bankruptcy Court for the Southern District of New York, the SEC believes that some aspects of the asset restructuring plan of Binance US’ acquisition could breach securities law.
Particular Concerns Around Security Of Assets
The SEC is formally investigating whether Binance US and related debtors violated anti-fraud, registration and other provisions of the federal securities laws with particular concern around security of assets through planned acquisition by noting that information provided in planned purchase fails to adequately outline whether or not BInance US or affiliated third parties would have access or control over anyone with access such wallets or keys associated with customers’ accounts on their platform as well as lack sufficient provision safeguards ensuring customer assets are not transferred off platform after deal is finalized leading into next matter at hand…
SEC Calls For Addressing Issues By Providing Information On Access & Controls Of Assets
The SEC is calling for BInance US to address these issues by providing information regarding who has access customer assets as well as necessary internal controls & practices ensuring safety customer assets once deal finalized in effort ensure compliance with federal securities laws while still allowing company retain rights sell cryptocurrencies belonging Voyager distribute account holders properly without issue…
CZ Denies Report Of Major Breakup With US Business Partners
Furthermore, Changpeng Zhao (CZ), CEO at major cryptocurrency exchange firm ‘BInance’ denied rumors report claiming his company looking major breakup business partners United States due this situation involving Voyager digital implying that situation currently under wraps & handled correctly by respective parties involved…
All things considered despite this hiccup involving SEC objecting towards proposed purchase Voyager Digital’s remaining assets it appears everything still being handled smoothly behind scenes without disruption service so far from what seen which good news all those involved directly indirectly…