US SEC staff believe that Binance.US operates an unregistered stock exchange in the US, but it does not represent the position of the SEC

According to The Block, during Voyager Digital’s bankruptcy hearing, a lawyer said that the staff of the United States Securities and Exchange Commission (SEC) believes that Binance.US operates an unregistered securities exchange in the United States. SEC attorney William Uptegrove also expressed concern about the issuance and sale of Voyager token VGX, which has the attributes of a securities transaction. The SEC has not made any decisions on these matters at this time, and the views of the staff do not necessarily represent those of the Commission. In January, U.S. Bankruptcy Judge Michael Wiles has allowed Voyager to enter into an asset purchase agreement with Binance.US, with creditors voting on the final decision at a future court hearing. In late February, the New York State Department of Financial Services (NYDFS) and the U.S. SEC opposed Binance.US’ $1.02 billion acquisition of the assets of defunct cryptocurrency lender Voyager. At the Voyager reorganization agreement hearing on Thursday, Judge Michael Wiles quarreled with creditors over the reorganization agreement sold to Binance.US and still could not reach an agreement after eight hours of hearings.