The SEC and the New York State Department of Financial Services (NYDFS) have just opposed the purchase of the assets of bankrupt cryptocurrency broker Voyager Digital by Binance.US.
According to the Securities and Exchange Commission, the $1.02 billion deal may violate securities laws, as it involves the payment of debt to former Voyager customers, including in the native VGX token.
The regulator has said:
“Transactions with crypto assets required to rebalance, redistribute such assets among account holders, may violate the prohibition on unregistered offering and sale of securities.”
The regulator has also pointed to Binance’s pending fines for past violations of money laundering and corruption laws as evidence that the deal could become “impossible to complete.”
