{"id":501654,"date":"2022-10-18T00:00:00","date_gmt":"2022-10-17T21:00:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/texas-investigates-ftx-for-securities-violations-after-objecting-to-voyager-auction\/"},"modified":"2022-10-18T00:00:00","modified_gmt":"2022-10-17T21:00:00","slug":"texas-investigates-ftx-for-securities-violations-after-objecting-to-voyager-auction","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/texas-investigates-ftx-for-securities-violations-after-objecting-to-voyager-auction\/","title":{"rendered":"# Texas investigates FTX for securities violations after objecting to Voyager auction"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a4131952a9ab\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a4131952a9ab\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/texas-investigates-ftx-for-securities-violations-after-objecting-to-voyager-auction\/#%E2%80%9D_Texas_investigates_FTX_for_securities_violations_after_objecting_to_Voyager_auction_%E2%80%9C\" >&#8221; Texas investigates FTX for securities violations after objecting to Voyager auction &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Texas_investigates_FTX_for_securities_violations_after_objecting_to_Voyager_auction_%E2%80%9C\"><\/span>&#8221; Texas investigates FTX for securities violations after objecting to Voyager auction &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTAvMGFiOGE4NGMtMzQzZS00M2FjLWE4MWYtZGJkNzNjNDQ1OTE5LmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-4b69a2fe>The Texas State Securities Board, or SSB, and the Texas Department of Banking filed a supplemental declaration on Oct. 14 in the Voyager Digital case stating that the SSB is investigating FTX Trading and FTX US and their principals, including co-founder and CEO Sam Bankman-Fried, for allegedly offering unregistered securities in the United States. FTX US won the auction for the remaining Voyager Digital assets on Sept. 26.\u00a0<\/p>\n<p>The supplemental declaration from the Texas regulators is attached to an objection to the sale of Voyager Digital assets to FTX filed by the Office of the Texas Attorney <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/general\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"General\" target=\"_blank\" rel=\"noopener\">General<\/a> also on Oct. 14. In that objection, the state claims that Voyager Digital and FTX are not in compliance with Texas law and that \u201cthe proposed sale, or order <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>roving the sale, attempts to limit the Debtors\u2019 liability for unlawful [\u2026] conduct for which state-regulatory fines and penalties may apply.\u201d Specifically, according to the objection, Voyager Digital conducted unlicensed money transmissions, as it was not registered as a securities dealer in Texas.<\/p>\n<p>The director of the SSB enforcement division, Joseph Rotunda,\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/cases.stretto.com\/public\/x193\/11753\/PLEADINGS\/1175310142280000000134.pdf\">stated<\/a> in the declaration that he was able to download the FTX Trading app to his smartphone and create a yield-bearing account using his own name and Austin, Texas address. FTX Trading does not conduct business in the United States. Nonetheless, Rotunda stated:<\/p>\n<blockquote><p>\u201cThe FTX Trading App now shows that I am earning yield on the ETH. The yield is valued at 8 percent APR. Based upon my earning of yield and an ongoing investigation by the Enforcement Division of the Texas State Securities Board, the yield program appears to be an investment contract.\u201d <\/p><\/blockquote>\n<p>Rotunda concluded, \u201cFTX US should not be permitted to purchase the assets of the debtor unless or until the Securities Commissioner has an opportunity to determine whether FTX US is complying with the law.\u201d<\/p>\n<p>Voyager Digital declared bankruptcy in July. Its case is now being heard in the United States Bankruptcy Court of the Southern District of New York. FTX co-founder and chief <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a> officer Gary Wang and FTX director of engineering Nishad Singh are also mentioned in the declaration.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">FTX is excited to be regulated in Dubai by VARA!  We&#8217;re excited to expand out our presence in the city, and to work with regulators who have taken the lead in establishing a regulatory framework for digital assets, protecting customers and allowing for innovation.<\/p>\n<p>\u2014 SBF (@SBF_FTX) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/SBF_FTX\/status\/1581945308107640832?ref_src=twsrc%5Etfw\">October 17, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>In happier <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a> for the crypto exchange, Bankman-Fried announced on <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> on Oct. 17 that the company has been registered by Dubai\u2019s Virtual Asset Regulatory Authority. Its FZE subsidiary\u00a0received a Minimal Viable Product license in July.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"law_decoded\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/texas-investigates-ftx-for-securities-violations-after-objecting-to-voyager-auction\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Texas investigates FTX for securities violations after objecting to Voyager auction &#8220; The Texas State Securities Board, or SSB, and the Texas Department of Banking filed a supplemental declaration on Oct. 14 in the Voyager Digital case stating that the SSB is investigating FTX Trading and FTX US and their principals, including co-founder and&#8230;<\/p>\n","protected":false},"author":1,"featured_media":501655,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTAvMGFiOGE4NGMtMzQzZS00M2FjLWE4MWYtZGJkNzNjNDQ1OTE5LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[89897,70934,72287,6474],"class_list":["post-501654","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-sam-bankman-fried","tag-regulation","tag-security","tag-texas"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/501654","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=501654"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/501654\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/501655"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=501654"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=501654"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=501654"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}