{"id":74952,"date":"2023-03-03T11:32:41","date_gmt":"2023-03-03T09:32:41","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=74952"},"modified":"2025-09-10T02:39:00","modified_gmt":"2025-09-09T23:39:00","slug":"u-s-court-asks-sec-to-explain-objections-to-voyager-asset-sale","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/u-s-court-asks-sec-to-explain-objections-to-voyager-asset-sale\/","title":{"rendered":"U.S. court asks SEC to explain objections to Voyager asset sale"},"content":{"rendered":"<p>At the March 2 hearing, Judge Michael Wells noted the ambiguity of the <span data-descr=\\\"U.S. Securities and Exchange Commission\\\" class=\\\"old_tooltip\\\">SEC<\/span>&#8216;s position regarding the sale of Voyager Digital&#8217;s assets on the Binance.US exchange and asked for explanations from the agency. <a href=\\\"https:\/\/www.reuters.com\/legal\/sec-objections-voyager-binance-deal-criticized-by-us-judge-2023-03-02\/\\\">Reuters<\/a> reports.<\/p>\n<p>\\n\\n<\/p>\n<p>In February, the SEC and the New York State Department of Financial Services <a href=\"https:\/\/u1f987.com\/en\/news\/sec-and-nydfs-oppose-sale-of-voyager-digital-assets-to-binance-us\">stated<\/a> that the $1.02 billion deal could violate securities laws.<\/p>\n<p>\\n\\n<\/p>\n<p>When asked by Wells whether the debt restructuring indeed violated the law, SEC attorney William Aptgroov did not provide a clear answer.<\/p>\n<p>\\n\\n<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>\u201cWe cannot take any position at this time. The Securities and Exchange Commission is an advisory body, and its process is non-public in accordance with federal law,\u201d he said.<\/p>\n<\/blockquote>\n<p>\\n\\n<\/p>\n<p>The judge pointed to the inadmissibility of such an approach following objections to debt restructuring.<\/p>\n<p>\\n\\n<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>\u201cConsulting is a good thing, but what have you done? If there are reasons for concern, I need to hear details,\u201d said Wells.<\/p>\n<\/blockquote>\n<p>\\n\\n<\/p>\n<p>The sale of Voyager&#8217;s assets will proceed only if the court, the SEC and the Committee on Foreign Investment in the United States approve the deal.<\/p>\n<p>\\n\\n<\/p>\n<p>Judge Wells is due to hear further arguments on Voyager&#8217;s debt restructuring on March 3.<\/p>\n<p>\\n\\n<\/p>\n<p>In January, the SEC previously <a href=\"https:\/\/u1f987.com\/en\/news\/voyager-brands-criticism-of-binance-us-deal-as-hypocritical\">opposed the deal<\/a>, casting doubt on Binance.US&#8217;s ability to finance it. Voyager, at the time, called these assertions \u201chypocritical.\u201d<\/p>\n<p>\\n\\n<\/p>\n<p>In December 2022, Binance&#8217;s U.S. unit offered <a href=\"https:\/\/u1f987.com\/en\/news\/binance-us-to-acquire-voyager-digital-assets\">the highest price for the debtor&#8217;s assets<\/a> \u2014 $1.002 billion and an additional $20 million in potential upside.<\/p>\n<p>\\n\\n<\/p>\n<p>Voyager Digital users will be able to recover <a href=\"https:\/\/u1f987.com\/en\/news\/voyager-clients-to-recover-funds-via-binance-us-accounts\">a portion of their funds through Binance.US accounts<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>At the March 2 hearing, Judge Michael Wells noted the SEC&#8217;s ambiguous position regarding the sale of Voyager Digital&#8217;s assets on Binance.US and asked for explanations from the agency. Reuters reports.<\/p>\n","protected":false},"author":1,"featured_media":74953,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[744,128,1546],"class_list":["post-74952","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-binance","tag-sec","tag-voyager"],"aioseo_notices":[],"amp_enabled":true,"views":"23","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/74952","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=74952"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/74952\/revisions"}],"predecessor-version":[{"id":74954,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/74952\/revisions\/74954"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/74953"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=74952"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=74952"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=74952"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}