The US SEC opposes Binance.US's acquisition of Voyager for $1 billion and claims that VGX is an unregistered security

ChainCatcher news, according to CoinDesk, New York and federal financial regulators oppose Binance.US's acquisition of Voyager for $1.02 billion, stating that the transaction may be discriminatory and illegal. The SEC indicated that, given the plan's proposal on how to repay Voyager's former customers, the proposed Binance.US and Voyager transaction may also violate the law.

A document from the U.S. Securities and Exchange Commission states that the necessary cryptocurrency transactions to reallocate such assets to account holders may violate the prohibition on unregistered offers, sales, or post-sale deliveries under Section 5 of the Securities Act of 1933. The content also specifically cites the VGX token issued by Voyager. (CoinDesk)