At a meeting on March 2, judge Michael Wiles questioned the SEC’s position on the $1.02 billion sale of Voyager Digital assets to Binance.US and demanded answers from the agency, Reuters has reported.
The Commission and the New York State Department of Financial Services had previously raised concerns that the deal could be a violation of securities laws. Wiles asked SEC attorney William Uptegrove if distributing the debt was against the law, to which he said the SEC could not take any position at the moment due to federal laws.
Wiles then highlighted the inadmissibility of such an approach and asked for details. The sale of Voyager’s assets is contingent upon approval from the court, the SEC and the US Foreign Investment Committee.
Wiles is scheduled to discuss the debt restructuring again on March 3.
In January, the SEC had stated that it was against the deal, citing doubts about Binance.US’s ability to finance it.
