TechFlow news, the U.S. Securities and Exchange Commission (SEC) has raised limited objections to Binance US's proposed $1.02 billion acquisition of the bankrupt cryptocurrency lending platform Voyager. The SEC questioned the adequacy of information disclosed in Binance US's disclosure statement, particularly regarding details on the cryptocurrency exchange’s ability to "complete a transaction of this scale," as well as specifics on how Binance US intends to protect customer assets and how it will rebalance its cryptocurrency portfolio.
The SEC stated that it has communicated its concerns to Binance US's legal counsel and was informed that a revised disclosure statement would be submitted prior to the next hearing. Additionally, the Texas State Securities Board and the Texas Department of Banking have also objected to the sale, stating that Voyager and Binance US “do not comply with Texas law and are not authorized to conduct business in Texas.”
