{"id":558865,"date":"2023-03-03T06:29:34","date_gmt":"2023-03-03T03:29:34","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/sec-objection-to-voyager-binance-us-deal-questioned-by-us-judge\/"},"modified":"2023-03-03T06:29:34","modified_gmt":"2023-03-03T03:29:34","slug":"sec-objection-to-voyager-binance-us-deal-questioned-by-us-judge","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/sec-objection-to-voyager-binance-us-deal-questioned-by-us-judge\/","title":{"rendered":"# SEC objection to Voyager-Binance.US deal questioned by US judge"},"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-6a3fa8b607de4\" 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-6a3fa8b607de4\" 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\/sec-objection-to-voyager-binance-us-deal-questioned-by-us-judge\/#%E2%80%9D_SEC_objection_to_Voyager-BinanceUS_deal_questioned_by_US_judge_%E2%80%9C\" >&#8221; SEC objection to Voyager-Binance.US deal questioned by US judge &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_SEC_objection_to_Voyager-BinanceUS_deal_questioned_by_US_judge_%E2%80%9C\"><\/span>&#8221; SEC objection to Voyager-Binance.US deal questioned by US judge &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjMtMDMvZDJlZDIzNjUtNGIxMS00OWZlLWI3ZDAtOTM1MzFhNjEyYzdlLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-48054ca8>The bankruptcy judge on Voyager Digital\u2019s case has reportedly scolded the United States securities regulator over its ambiguous reasoning for objecting to the crypto lending firm\u2019s proposed sale to Binance.US.<\/p>\n<p>At a Mar. 2 hearing in a New York court, U.S. bankruptcy judge Michael Wiles said the Securities and Exchange Commission (SEC) had basically asked to \u201cstop everybody in their tracks\u201d without explaining how to address concerns it had over the deal according to a Reuters <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.reuters.com\/legal\/sec-objections-voyager-binance-deal-criticized-by-us-judge-2023-03-02\/\">report<\/a>.<\/p>\n<p>The court was considering a restructuring plan announced on Dec. 19 last year to bring Voyager out of Chapter 11 bankruptcy that would see crypto exchange Binance.US acquire its assets for $1.02 billion \u2014 an option Voyager said at the time represented the \u201chighest and best bid for its assets.\u201d <\/p>\n<p>The SEC however filed an objection to the sale on Feb. 22 claiming aspects of the restructuring plan could breach securities laws, namely the crypto transactions that will need to h<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>en to rebalance funds to redistribute to Voyager account holders.<\/p>\n<p>In court, SEC attorney William Uptegrove offered a reserved answer to Judge Wiles when asked if the regulator believes the plan violated the law, saying:<\/p>\n<blockquote><p>&#8220;We can&#8217;t take a position at this point. The SEC is a deliberative body, and its process is a nonpublic one by federal law.&#8221;<\/p><\/blockquote>\n<p>Wiles hit back saying &#8220;deliberative is one thing, but what have you done?&#8221; and added, &#8220;if there are reasons to be concerned here, I need to hear specifics.&#8221;<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">\u26a0\ufe0f Judge Wiles slamming the SEC rep about their objection. \u26a0\ufe0f<\/p>\n<p>Says, (paraphrase) &#8220;You&#8217;re asking the debtor to prove that the cryptos being transacted are not securities, but you&#8217;ve given no regulatory guide as to what that is.&#8221;<\/p>\n<p>\u2014 VGX Heroes  (@VGX_Heroes) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/VGX_Heroes\/status\/1631315506706673669?ref_src=twsrc%5Etfw\">March 2, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The sale requires court approval, along with the go-ahead from the SEC and the Committee on Foreign Investment in the United States (CFIUS) which is probing the deal to review if it will entail a foreign investment and raise national security concerns.<\/p>\n<p>Judge Wiles is set to hear continued arguments on the bankruptcy plan on Mar. 3.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>FTC announces investigation into Voyager\u2019s \u2018deceptive and unfair marketing\u2019 of crypto<\/em><\/strong><\/p>\n<p>The proposed Binance.US plan would transfer Voyager customers to the crypto exchange, who would be able to withdraw their funds for the first time since the platform filed for bankruptcy in July last year.<\/p>\n<p>Customers would reportedly recover over 70% of their deposited value as at the time of the bankruptcy, in a poll of 61,300 account holders with claims against the crypto lender, the plan was favored by 97% of Voyager\u2019s customers.<\/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 <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> 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\/sec-objection-to-voyager-binance-us-deal-questioned-by-us-judge\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; SEC objection to Voyager-Binance.US deal questioned by US judge &#8220; The bankruptcy judge on Voyager Digital\u2019s case has reportedly scolded the United States securities regulator over its ambiguous reasoning for objecting to the crypto lending firm\u2019s proposed sale to Binance.US. At a Mar. 2 hearing in a New York court, U.S. bankruptcy judge Michael&#8230;<\/p>\n","protected":false},"author":1,"featured_media":558866,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=1200\/https:\/\/s3.cointelegraph.com\/uploads\/2023-03\/d2ed2365-4b11-49fe-b7d0-93531a612c7e.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[75014,4978,117,71433],"class_list":["post-558865","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-binance","tag-bankruptcy","tag-business","tag-court"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/558865","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=558865"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/558865\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/558866"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=558865"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=558865"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=558865"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}