Binance.US, facing an uncertain regulatory climate, has terminated its asset purchase agreement with Voyager Digital
Binance.US, the American subsidiary of the global cryptocurrency exchange Binance, has announced its decision to terminate the asset purchase agreement with Voyager Digital, citing a “hostile and uncertain regulatory climate in the United States.”
The announcement has fueled speculation that Binance’s withdrawal from the deal might be part of an imminent settlement with the Commodity Futures Trading Commission (CFTC) as the regulatory agency’s commissioner hinted at the possibility of finding a path forward in the ongoing lawsuit.
As reported by U.Today, CFTC sued Binance in late March over alleged violations of trading and derivatives rules.
In response to a tweet suggesting that Binance’s decision to pull out of the Voyager deal could be part of a settlement with the CFTC, Binance CEO Changpeng Zhao (CZ) offered an ambiguous shrug emoji.
The implications of this decision on Binance’s legal issues with the CFTC remain to be seen.
Prior to the lawsuit, the Voyager deal faced significant regulatory scrutiny in the U.S. In December, the Committee on Foreign Investment in the United States (CFIUS) had indicated that Binance’s acquisition of Voyager may require review to ensure no national security concerns exist.
Source: https://u.today/binances-withdrawal-from-voyager-deal-sparks-speculation-on-cftc-settlement