5. März 2024

SEC’s Limited Objection to Binance-Voyager Acquisition Could Signal Lawsuit

• The Securities and Exchange Commission (SEC) has filed a limited objection to the acquisition between Binance and Voyager due to a lack of information.
• Attorney John Deaton claims that the SEC may further file a legal action against Binance.US, one of the largest crypto exchanges.
• SEC’s limited objection in the Binance-Voyager acquisition could be a sign of a future lawsuit.

The Securities and Exchange Commission (SEC) has recently filed a limited objection to the acquisition between Binance and Voyager. The SEC claims that the purchase agreement lacks the necessary information about Binance’s ability to purchase Voyager Digital along with its future plans. The SEC also asked Voyager Digital to provide detailed information about what are its plans if the transfer of the agreed $1.02 billion by Binance fails.

Furthermore, attorney John Deaton claims that the SEC may further file a legal action against Binance.US, which is considered to be one of the largest crypto exchanges by trading volume. Deaton is currently acting as Amicus Curiae, the court’s friend in support of Ripple in the SEC vs Ripple case. After the SEC filed a limited objection in the Binance-Voyager acquisition today, Deaton took to Twitter claiming that this could be a sign of a future lawsuit.

The SEC’s limited objection in the Binance-Voyager acquisition could potentially be a precursor to a legal action against Binance.US. The SEC had previously filed a lawsuit against Ripple, accusing the company of conducting an unregistered securities offering throughout 2017. This lawsuit still continues and Ripple has since filed an official response to the SEC’s lawsuit.

The SEC’s limited objection to the Binance-Voyager acquisition could be an indication that the SEC may be taking a closer look at cryptocurrency exchanges as well. Binance.US is one of the largest crypto exchanges in the US and the SEC’s potential interest in the company could have serious implications for the entire US crypto industry.

Given the SEC’s ongoing lawsuit against Ripple, it is likely that the SEC is taking a closer look at crypto exchanges in general. It remains to be seen whether the SEC will take any legal action against Binance.US, but it is certainly something to keep an eye on. If the SEC does decide to sue Binance.US, it could have major implications for the entire US crypto industry.