US markets regulators have opposed Binance US’s proposed $1bn acquisition of the assets of bankrupt cryptocurrency lender Voyager Digital, warning that part of the rescue package may violate securities law.
The Securities and Exchange Commission and the New York Department of Financial Services both filed objections to the purchase of assets belonging to Voyager, which went bankrupt last summer as prices of tokens tumbled and it was unable to repay its lenders.
Their objections increase the focus on Binance, the world’s largest cryptocurrency exchange, and its US affiliate as American authorities expand their crackdown on crypto companies.