The US SEC raised limited objections to Binance US's acquisition of Voyager

2023-01-05 07:37:40

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ChainCatcher News, the U.S. Securities and Exchange Commission (SEC) has filed a limited objection to Binance US's proposed $1.02 billion acquisition of the bankrupt cryptocurrency lending platform Voyager. The SEC questions the adequacy of the information disclosed by Binance US, particularly details regarding the cryptocurrency exchange's ability to "complete a transaction of such scale," how Binance US intends to protect customer assets, and how Binance US will rebalance its cryptocurrency portfolio.

The SEC stated that it has communicated its concerns to Binance US's attorneys and has been informed that a revised disclosure statement will be submitted before the next hearing. Additionally, the Texas State Securities Board and the Texas Department of Banking have also raised objections to the sale, stating that Voyager and Binance US "do not comply with Texas law and are not authorized to conduct business in Texas." (CoinDesk)

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