Voyager Gets Government Approval Over Assets Sale to Binance.US

• The Unsecured Creditors Committee had struck an agreement with the U.S. government.
• The CFTC of the United States filed suit against Binance.US last month.

The planned purchase of defunct US crypto lender Voyager Digital especially by Binance.US has been blocked by authorities on many occasions during the last few months. Recently, however, Voyager reported that the Unsecured Creditors Committee (UCC) had struck an agreement with the U.S. government allowing the purchase plan to go through.

Voyager reported the following on Wednesday, April 19:

“The resolution is embodied in a joint stipulation providing that the appeals will continue with respect to the Plan’s exculpation provision. The Government has agreed that the Plan may move forward without such provision and will not otherwise be subject to the stay. Voyager and the UCC are working with Binance.US to move forward as quickly as possible once this stipulation is approved by the District Court.”

Increased Scrutiny Over Sector

Voyager Digital, a cryptocurrency lender, ran into serious difficulties after the collapse of the Terra ecosystem last year. Voyager quickly followed this with a Chapter 11 bankruptcy filing.

Earlier on, Binance U.S. expressed interest in purchasing Voyager Digital’s assets, putting it in a competitive position against FTX. However, after declaring bankruptcy in November of last year, FTX, a cryptocurrency exchange, was no longer a factor.

Binance, one of the largest cryptocurrency exchanges, has recently been under scrutiny from US officials. The Commodity Futures Trading Commission (CFTC) of the United States filed suit against Binance.US last month, alleging that the exchange was operating in violation of U.S. derivatives rules.

The U.S. SEC has been quite aggressive towards the crypto sector, with claims of cryptocurrencies being securities except for Bitcoin.

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