SEC raises objections to the purchase of Voyager Digital by Binance.Us for $ 1 billion

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Von Krypto News Österreich

In a submission on January 4, the financial supervisory authority submitted a limited objection and a legal reservation. The SEC pushes back the plan of Binance's US department to buy the bankruptcy crypto loan Voyager Digital in a business worth around $ 1 billion.

According to the agency, the purchase contract does not contain sufficient details about the ability of Binance to complete the transaction.

It found that the purchase contract for assets does not contain any details about:

"The ability of Binance US to complete a transaction of this size that the debtors rate with $ 1.022 billion, including the type of business activity of Binance Us after the takeover."

sec would like more details about customer refunds

The regulatory authority also requires further details on how Voyager Digital (the debtors) intends to secure customer assets. It would like to receive information about safety precautions that were implemented by the debtors and Binance Us after the acquisition of assets.

Further details on the realignment of Voyager's cryptocurrency portfolio were also requested by the SEC. Essentially, it wants to ensure that customer funds are fully reimbursed before Voyager takes something out of the sales business.

Details for the sale of crypto-assets that cannot be distributed to account holders, for the purchase of cryptocurrency, which is supported by Voyager or Binance and is to be distributed to account holders, and for the implementation of all other transactions that are required or appropriate to carry out distributions to account holders, have been requested.

While these concerns seem to be justified, the SEC and the chairman Gary Gensler seem to be aware of suffocating crypto as a whole instead of working on efforts, healing and promoting the industry.

mid -December, Cryptopotato reported that Binance Us digitally made an agreement with Voyager about the acquisition of his assets. At the end of October, FTX Us won an offer to buy up the needy assets, just a few weeks before the collapse.

outlook on the cryptom market

Voyager Digital suspended payments and registered bankruptcy according to Chapter 11 in early July. Since then, the cryptoma markets have decreased by 10 % or around $ 100 million.

Today, the entire market capitalization is around $ 854 billion. The markets have increased by 1.7 % in the last 24 hours, but remain in a narrow, excited channel with extremely low volatility.

Analysts forecast several other months of this marketlethargy.

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