The US Government wants the Voyager-Binance deal to be halted

The US Government wants the Voyager-Binance deal to be halted


Key takeaways;

The US Government wants to halt the $1 billion deal between Binance.US and Voyager Digital.

The authorities stated the deal ought to be on maintain whereas key authorized objections are ironed out.

Binance appears prime to purchase Voyager Digital’s belongings after FTX’s collapse in November.

Government seeks to halt the Voyager-Binance.US deal

The United States authorities revealed in a submitting on Tuesday that it wants the $1 billion deal supplied by Binance.US to purchase belongings of bankrupt crypto lender Voyager to be placed on maintain till key authorized objections are ironed out. 

This newest cryptocurrency information comes after an enchantment by the U.S. Trustee, a department of the Department of Justice chargeable for chapter instances. The US Trustee has considerations that the deal would be sure that Voyager and its workers wouldn’t be held chargeable for breaches of tax or securities regulation.

The submitting by U.S. Attorney Damian Williams stated;

“The Court cannot tell the Government to speak now or forever hold its peace before Voyager and Binance.US wed. Nothing in the Bankruptcy Code permits courts to exculpate parties from liability to the Government for past and future conduct.”

According to Williams, the approval of the deal ought to be paused, or at the very least the components which restrict the US Government’s potential to implement the regulation, till appeals are correctly addressed in greater courts. 

Binance.US appears set to full Voyager Digital’s acquisition

The enchantment comes every week after New York chapter decide Michael Wiles permitted the deal. The decide confirmed appreciable skepticism of arguments from the Securities and Exchange Commission, which argued that Voyager’s VGX token would possibly be an unregistered safety.

Last month, Voyager Digital bought a few of its belongings by way of the US-based cryptocurrency trade Coinbase.

The firm acquired roughly $100 million in the USD Coin (USDC) stablecoin for gross sales of a number of tokens, together with Shiba Inu, Ethereum and the native Voyager Token.

Binance.US took the prime place to purchase Voyager Digital’s belongings after the collapse of FTX. FTX beforehand agreed to purchase Voyager Digital earlier than the collapse of the cryptocurrency trade.



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