“Binance US is operating an unregistered securities exchange,” says US SEC staff

Recently, a US Securities and Exchange official said that the agency staff believed Binance.US is operating an unregistered securities exchange in their country and that staff also believed that the sale of VGX tokens by Voyager Digital is violating securities laws. This is not good news for the crypto industry as well as for the Voyager account holders who wanted Binance.US to buy the company.

US SEC is against Binance.US buying Voyager

Recently, Binance.US showed interest in buying Voyager and was supported by most Voyager account holders. However, many senior officials and higher agencies were against it.

Speaking at a bankruptcy hearing to determine if Voyager, the crypto lending firm, should be sold to Binance.US, SEC Senior Trial Attorney William Uptegrove said he was responding to Judge Michael Wiles of the Southern District Bankruptcy Court in NYC, who said at the outset of the hearing that the SEC had provided little guidance about its objection to the Voyager sale.

He added that the staff believes, based on the facts and proof currently available, that the offering and sale of the Voyager Digital VGX tokens have the attributes of a securities transaction. The staff also mentioned that Binance.US operates an unregistered securities exchange in the US.

The official noted that the view of the US SEC staff does not necessarily reflect the views of the top five commissions at the head of the agency. He did not say whether the SEC had any enforcement actions tied to his declaration in the works. The official also said that the commissions had not determined these issues.

Binanace.US spokesperson is not happy with SEC staff member allegations

As you know, Binance.US wants to buy Voyager Digital however; many top law agencies are against it. A US SEC official said the agency staff believed Binance.US was operating an unregistered securities exchange.

Talking about this matter, a Binance.US spokesperson said it is regrettable that a US SEC staff member would make such allegations that Binance.US and a platform like ours are operating an unregistered exchange without specifying the assets listed on your assets that the SEC staff consider securities.

He added they, along with other exchanges in the crypto industry, are committed to constructive dialogue with regulators and supporting a comprehensive regulatory framework drafted and passed by Congress to ensure innovation in countries in the US.

What are your thoughts on US SEC staff member allegations made against Binance.US? Let us know in the comments below. Also if you found our content informative, share it with your family and friends.

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