The SEC was required to explain its position on Voyager


At the hearing on March 2, Judge Michael Wiles noted the ambiguity of the position SEC regarding the sale of Voyager Digital assets to the Binance.US exchange and demanded an explanation from the department. Writes about it Reuters.

In February, the Commission and the New York State Department of Financial Services said the $1.02 billion deal could violate securities laws.

Asked by Wiles whether the distribution of the debt is actually against the law, SEC attorney William Aptegrove did not give a clear answer.

“We cannot take any position at the moment. The Securities and Exchange Commission is an advisory body and its process is non-public under federal law,” he said.

The judge pointed out the inadmissibility of such an approach after objections regarding the debt restructuring.

“Conference is good, but what have you done? If there is cause for concern, I need to hear the details,” Wiles said.

The sale of Voyager’s assets will take place only if the court, the SEC and the US Foreign Investment Committee approve the deal.

Judge Wiles is scheduled to hear further arguments on Voyager’s debt restructuring on March 3.

In January, the SEC had already opposed the deal, questioning Binance.US’s ability to finance it. Then Voyager called these statements “hypocritical.”

Recall that in December 2022, the American division of Binance offered the highest price for the debtor’s assets – $1.002 billion and another $20 million as a possible positive revaluation.

Voyager Digital users will be able to get some of their funds back through their Binance.US accounts.

Subscribe to CryptoNewsHerald on social networks

Found a mistake in the text? Select it and press CTRL+ENTER

CryptoNewsHerald Newsletters: Keep your finger on the pulse of the bitcoin industry!

Comments (No)

Leave a Reply