• The U.S. government has appealed a decision that approved the sale of Voyager Digital’s assets to Binance.US.
• The SEC contested the sale prior to approval and is concerned with protecting employees from legal claims and enforcing regulations.
• Voyager itself must also consider the terms of the deal and decide whether Binance.US is a suitable buyer for its assets.
U.S Government Appeals Voyager-Binance Deal
The U.S government has filed an appeal against a judicial decision that approved the sale of Voyager Digital’s assets to Binance US, according to a filing on March 9th, 2021. The appeal was filed by two government agencies: the U.S Attorney’s Office for the Southern District of New York and the Office of the U.S Trustee, although their reasons were not provided in detail in this filing yet.
SEC Contests Sale
Prior to approval, the U.S Securities and Exchange Commission (SEC) contested the sale as well, expressing concerns about protecting employees from legal claims that might arise from bankruptcy proceedings and their own ability to enforce regulations due to broadly written approval by Judge Michael Wiles.
Voyager Must Consider Terms Of Deal
Regardless of outcome, it is up to Voyager itself now to consider all terms of this deal carefully and decide whether or not Binance US is a suitable buyer for its assets.
Judge Expresses Hostility Towards SEC
It should be noted that Judge Michael Wiles showed hostility towards SEC during this case due to time-consuming nature of its regulatory complaints, making it uncertain what impact current appeal may have on further delaying this case or not.
All parties involved will have to wait until court rules if U.S government’s appeal against judicial decision will be accepted or not before proceeding further with this transaction between Voyager Digital & Binance US .