FTX US and SBF are under investigation by the Texas securities regulator for the acquisition of Voyager

ChainCather news reports that according to a state document submitted by regulators in Texas, FTX US may have offered unregistered securities to U.S. residents in the form of yield accounts, and both FTX US and Sam Bankman-Fried are under investigation by Texas securities regulators. The Texas regulators believe that FTX should not be allowed to purchase Voyager digital assets. The court is set to make a final ruling on FTX's acquisition of Voyager Digital Assets this Wednesday.

Joseph Jason Rotunda, the enforcement director of the Texas Securities Commission, claims that the yield program appears to be an investment contract and should be regulated as a security. In the submitted documents, Rotunda opposes the acquisition until the securities commissioner can determine whether all companies managed by FTX US and SBF are in compliance with the law. Rotunda has authorized the Texas Attorney General's office to use documents from the bankruptcy proceedings to make a final decision. (BeinCrypto)