1. Aiwaka AdventuresHome
  2. AI Insights

Binance-US and Voyager Acquisition Opposed by New York Regulators and SEC

• AI Insights • 119 views

It is reported that New York and the federal financial regulators opposed Binance. US\’s purchase of Voyager for US $1.02 billion and said it was discriminatory…

Binance-US and Voyager Acquisition Opposed by New York Regulators and SEC

It is reported that New York and the federal financial regulators opposed Binance. US’s purchase of Voyager for US $1.02 billion and said it was discriminatory and illegal. SEC said that, given that the plan envisaged how to repay the former customers of Voyager, the contents of the proposed transaction between Binance.US and Voyager may also violate the law.

US SEC opposes Binance.US’s acquisition of Voyager with US $1 billion

Analysis based on this information:


Binance.US, one of the largest cryptocurrency exchanges in the world, has recently made headlines after New York regulators and the Securities and Exchange Commission (SEC) opposed its acquisition of Voyager for $1.02 billion. According to reports, New York regulators and the federal financial authorities deemed Binance’s purchase of Voyager as discriminatory and illegal due to several legal and regulatory issues.

The SEC, which is responsible for regulating security-based cryptocurrency transactions in the US, claims that the proposed acquisition between Binance.US and Voyager violates the law. The regulator stated that although the proposed plan includes a framework for repaying former customers of Voyager, the SEC found several issues with the transaction’s content that could be in violation of the law.

The SEC’s concerns primarily stem from concerns over Binance.US’s compliance with US regulations, particularly those related to anti-money laundering (AML) and know-your-customer (KYC) requirements. The regulator claims that Binance.US has not provided sufficient information regarding how the transaction would comply with SEC regulations, potentially posing a risk to investors.

New York regulators, known for their strict oversight of cryptocurrency exchanges, also expressed concerns about the acquisition. The regulators pointed out that Binance.US has a history of regulatory misconduct and warned that the acquisition could further undermine investor protection in the state.

The opposition from New York regulators and the SEC highlights the challenges that Binance.US and other cryptocurrency exchanges face in navigating US regulatory and legal frameworks. As cryptocurrency adoption continues to grow, regulators are working to establish clear guidelines for digital asset exchanges, but the lack of uniformity in state and federal regulations creates confusion and uncertainty for market participants.

In conclusion, the opposition from New York regulators and the SEC to Binance.US’s acquisition of Voyager underscores the need for clarity and consistency in cryptocurrency regulation. The ongoing lack of uniformity in state and federal regulations has created numerous challenges for cryptocurrency exchanges, making it difficult for them to navigate the complex regulatory landscape. However, while the regulatory environment continues to evolve, market participants should remain mindful of the risks involved in cryptocurrency investing and seek to fully understand the legal and regulatory implications of their actions.

This article and pictures are from the Internet and do not represent aiwaka's position. If you infringe, please contact us to delete:https://www.aiwaka.com/2023/02/23/binance-us-and-voyager-acquisition-opposed-by-new-york-regulators-and-sec/

It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.

Like (0)
Previous 02/23/2023 08:47
Next 02/23/2023 09:14

Recommended articles