SEC and New York regulators push back on BinanceUS’s acquisition of Voyager

The U.S. Securities and Exchange Commission (SEC), the New York Department of Financial Services (NYDFS) and the Attorney General of the State of New York have objected to Binance.US’s amended plan to acquire crypto lender Voyager. The objections were filed as part of Voyager’s bankruptcy proceedings. Binance.US entered into a good faith agreement with Voyager to acquire the crypto lender’s assets in December 2022. The exchange’s winning bid of $1 billion beat other industry players such as CrossTower and Wave Financial. The acquisition is still subject to regulatory approval, however. The SEC objects to the debtor’s plans to sell crypto assets as part of its rebalancing plan and has concerns about the security of assets on Binance.US’s platform. The SEC said Voyager’s plans to sell crypto assets could violate securities laws.