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Home Crypto

Judge approves Binance Voyager deal but requires divestment of holdings

by Reshab Agarwal
March 17, 2023
in Crypto, News
Reading Time: 2 mins read
0
Binance aspires to acquire Voyager Digital 

Binance aspires to acquire Voyager Digital 

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Binance, the world’s largest cryptocurrency exchange, has been given the green light to proceed with its acquisition of US-based digital asset broker Voyager in a deal. This is despite concerns from regulators about the deal’s potential impact on US financial markets.

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The deal, which was first announced in February 2022, had been put on hold after the New York Attorney General’s office raised concerns about Binance’s regulatory compliance, as well as the potential impact of the acquisition on US markets.

New York Judge’s Ruling and its Implications

In a ruling on Thursday, a New York judge gave the go-ahead for the deal to proceed, but with a major caveat: Binance will have to divest itself of all holdings in the Binance-Voyager deal before the acquisition can be completed. According to the ruling, the divestment is necessary in order to prevent Binance from gaining an unfair advantage in the US market and to ensure that the deal does not violate US securities laws.

Binance’s Response to the Ruling

In a statement, a spokesperson for Binance said that the company was “pleased” with the judge’s decision and that it remained “committed to compliance with all applicable laws and regulations in every jurisdiction where we operate.”

The spokesperson also emphasized that Binance had “no plans” to reacquire its holdings in Binance-Voyager deal after the deal was completed and that the company would continue to comply with all regulatory requirements in the US and other markets.

The acquisition of Voyager, which is valued at approximately $1.5 billion, would give Binance a significant foothold in the US market, which has been a target of the company’s expansion efforts for several years. However, the deal has faced significant opposition from US regulators, who have raised concerns about Binance’s compliance with US securities laws and its potential impact on US financial markets.

Binance’s Legal Challenges and Commitment to Compliance

In particular, the New York Attorney General’s office has been investigating Binance’s business practices and has accused the company of engaging in illegal activity, including market manipulation and insider trading.

Binance has denied these allegations and has said that it is committed to working with regulators to ensure that its operations are fully compliant with all applicable laws and regulations.


Despite these challenges, Binance has continued to expand its operations around the world and remains one of the largest and most influential players in the rapidly-evolving cryptocurrency industry.

Also Read: Congressman Emmer questions FDIC’s alleged efforts to limit crypto activity in the US.

Tags: Binancedealvoyager
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Reshab Agarwal

Reshab is a tech-enthusiast who likes to write about all things crypto. He is a Bitcoin bull and believes in a decentralized future of finance. Follow him on Twitter for more!

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