SEC opposes Binance.US’ US$1 billion Voyager deal: CoinDesk

NEW York and US federal finance regulators have opposed the US$1.02 billion deal by Binance.US to purchase assets of defunct crypto lender Voyager, CoinDesk reported on Thursday (Feb 23), citing Securities and Exchange Commission (SEC) filings.

The SEC said the proposed deal terms may also infringe the law, given how the plan expects to repay Voyager’s former customers, the report said.

It added that the deal was opposed by New York State’s Department of Financial Services (NYDFS) and Attorney General Letitia James in two Feb 22 filings, including allegations that Voyager was unlawfully serving customers in the state.

Binance.US and a lawyer representing Voyager Digital did not immediately respond to Reuters requests for comment sent outside US business hours.

Last month, US Bankruptcy judge Michael Wiles in New York allowed Voyager to enter into an asset purchase agreement with Binance.US and to solicit creditor votes on the sale, which will not be finalised until a future court hearing. REUTERS