Last Updated on March 10, 2023 by Bitfinsider
The United States government is attempting to thwart Binance.US’ plan to spend $1 billion buying Voyager’s troubled assets, despite the bankruptcy court in New York having approved the transaction.
The Trustee Office of the US Department of Justice submitted an appeal against Binance.US Approximately one day after New York bankruptcy judge Michael Wiles gave his approval to acquire the assets of insolvent crypto financier Voyager Digital.
Throughout the meeting, Judge Wiles emphasized that things needed to be done. We must take some sort of action because there are creditors who are waiting and who, in the midst of all this ambiguity, are unable to access property in which they have invested their entire life savings.
The Securities and Exchange Commission objected to the deal last month, citing a potential violation of federal securities laws through the unregistered operation of a securities exchange, and the Department of Justice has now filed an appeal in response. Other regulators have also voiced similar opposition to the deal.
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