TechFlow news — The proposed $1.02 billion acquisition of bankrupt crypto lender Voyager's assets by Binance.US has faced opposition from both New York and federal financial regulators.
The SEC stated that the terms of the proposed Binance.US-Voyager deal, particularly regarding how it plans to repay Voyager’s former customers, may violate laws. According to an SEC filing, "cryptographic asset transactions necessary to rebalance and reallocate such assets to account holders under the agreement could breach Section 5 of the Securities Act of 1933, which prohibits unregistered offers, sales, or deliveries after sale." The filing specifically referenced Voyager's issued VGX token.
The New York State Department of Financial Services (NYDFS) and Attorney General Letitia James also filed two separate documents on February 22 opposing the transaction, including allegations that Voyager illegally served customers in the state.Original link
