Binance US is one step closer to Voyager Digital’s assets acquisition, as US Judge shuts down SEC, says agency will not be allowed to interfere with crypto bankruptcy case

In late February, the SEC and NYDFS interrupt the Binance.Us $1 billion acquisition of the bankruptcy Voyager's Digital assets added that Voyager’s VGX token is unregistered security and also calling Binance.US one of the biggest America exchange, and the world's largest exchange by market value an unregistered securities exchange that is not licences to operate in New York.

Before this time, SEC already stopped issuing of Binance Stablecoins BUSD, and force other cryptocurrency exchange to close down their programs. They fine Kraken $30 million and closure of its staking program in US, they stop Gemini earning program and called it unregistered.

All these late actions by Security bodies let people realize they are waging a war against cryptocurrency exchanges. However, the bankruptcy judge in Southern District of New York says he have been notice SEC force regulation lately on crypto exchanges and he will stop them for interfering in bankruptcy case.

Judge Micheal yesterday says SEC are claiming assets are security and they put that ahead to punish executives and advisor that are trying to help customers with idea on how to repay them through a proposal of acquiring. He wouldn't allow such act toward Binance.US proposal of acquire Voyager and repay back its customers

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Judge asked SEC to give the reason why Voyager's acquisition won't be proceed and other reason of stopping crypto exchange on their track with no reason than claiming security. The judge then blast SEC interfering and wrong punishment giving to individual on their working proposal.

Judge Wiles Micheal made a good point saying Binance.US’s acquisition of $1 billion of Voyager, is a deal that will help customers, as Binance will handle the return money to Voyager's customers as part of the deal. So he don't understand the SEC’s objection on the proposal, and their believed Voyager and Binance.US violating securities

Voyager went into bankrupt in July 2022 in exposure to failed crypto hedge fund Three Arrows Capital. Voyager have crypto addresses of $697 million worth of cryptocurrencies, and $236 million of USDC stablecoin. FTX bid to acquire the company in September was not successful and that worsen the situation of the company. As part of restructuring voyager set to deal with Binance and sell it base assets to Binance.US for $1 billion, before SEC interrupt the deal and file charges against the company.

The deal is now Cleared as Judge Michael gives Binance.US a greenlight to complete it move in acquiring Voyager and help to repay their customers. Judge also want to stop SEC interfering on bankruptcy case, said they might later go after them in future for issueing a bankruptcy token. But for now court is going to stop them, so he give SEC today to come up with arguments.

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