Donald Frighman
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Mar 11, 2023

SEC takes up arms against Binance.US

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SEC takes up arms against Binance.US

Binance.US operates an unregistered securities exchange, according to SEC officials. Senior Attorney William Aptegrove made the announcement at the Voyager Digital bankruptcy hearing, CoinDesk reports.

A spokesman for the agency also said that Commission staff suspected a violation of securities laws in the sale of the Voyager (VGX) token.

“Personnel believes – based solely on the facts and circumstances currently known – that the offer and sale of VGX tokens has the trappings of a securities transaction. We also believe that Binance.US operates an unregistered securities exchange in the United States,” the official said.

He noted that the views of SEC staff do not necessarily reflect the views of management. The commission did not draw any conclusions on these occasions, said Aptegrove.

“It is unfortunate that an SEC official is making allegations without identifying exchange-listed assets that the agency considers securities. Along with other industry representatives, we remain committed to a constructive dialogue with regulators and support the development of a comprehensive regulatory framework by Congress to support innovation in the US,” commented a Binance.US representative.

In December 2022, the platform offered the highest bid for Voyager assets. However, the deal was opposed by the SEC and the New York State Department of Financial Services.

During the March 2023 hearing, Judge Michael Wiles asked the Commission to explain his position.

Source: CryptoNewsHerald.com

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Donald Frighman
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