SEC: Binance.US Operates an Unregistered Securities Exchange
At the Voyager Digital bankruptcy hearing, William Aptegrove, a Senior Attorney for the US Securities and Exchange Commission (SEC), revealed that the SEC staff believe Binance.US operates an unregistered securities exchange.
A spokesman for the agency also stated that personnel believe the sale of the Voyager (VGX) token had the “trappings of a securities transaction.” The SEC staff’s views do not necessarily reflect the views of the commission’s management.
Binance.US responded to the statement by expressing regret that Aptegrove made allegations without specifying which exchange-listed assets the agency considers securities. They added that they remain committed to having a constructive dialogue with regulators and support the development of a comprehensive regulatory framework.
The SEC and the New York State Department of Financial Services had objected to Binance.US’s bid for Voyager assets in December 2022. During the hearings in March 2023, Judge Michael Wiles requested the Commission to explain its position.
