2 years ago
In a large development, cryptocurrency speech Binance.US has moved person to acquiring Voyager Digital — a bankrupt crypto lender — pursuing months of regulatory hurdles.
According to a statement from Voyager connected April 19, the Uncensored Creditors Committee (UCC) has reached an statement with the U.S. authorities — paving the mode for Binance.US to get Voyager.
The acquisition has faced galore regulatory challenges successful caller months, causing uncertainty implicit the deal’s future.
Nevertheless, the caller woody struck betwixt the UCC and the U.S. authorities volition spot Binance.US determination guardant with its planned acquisition — taxable to support by the District Court.
“The authorities has agreed that the program whitethorn determination guardant without specified provisions and volition not different beryllium taxable to the stay.”
“Voyager and the UCC are moving with Binance.US to determination guardant arsenic rapidly arsenic imaginable erstwhile this stipulation is approved by the District Court.”
Voyager Digital acquisition regulatory hurdles
In mid-2022, Voyager Digital filed for bankruptcy citing adverse marketplace conditions. To rescue the lending company, aggregate firms projected assorted strategies.
Fast guardant to 2023, Binance.US secured the court’s approval to get immoderate of Voyager’s assets successful January. However, the Securities and Exchanges Commission (SEC) raised concerns implicit the fairness and legality of the $1 cardinal transaction.
Despite the setback, Voyager Digital secured approval from Bankruptcy Judge Michael Wiles to merchantability $1 cardinal worthy of assets to Binance.US. But the U.S. Department of Justice (DoJ) was not successful favour of the court’s decision, and connected March 19, it appealed the bankruptcy court’s ruling.
More setbacks
In March, a bankruptcy justice gave the greenish light for Binance to proceed with its $1 cardinal connection to acquisition the assets of Voyager Digital — contempt objections from the U.S. government. The DoJ accused the tribunal of exceeding its authorization and requested a two-week delay to question an appeal.
After months of regulatory setbacks, Binance.US has yet taken a important measurement guardant successful acquiring bankrupt crypto lender Voyager Digital. This comes aft the UCC reached an statement with the U.S. authorities — marking a large milestone successful the acquisition process.
The station Binance.US takes a measurement person to acquiring Voyager Digital appeared archetypal connected CryptoSlate.
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