The bankruptcy judge agreed that Binance.US could promote the plan of acquiring the assets of Voyager Digital

It is reported that the bankruptcy judge of Voyager Digital chose to allow the transaction with Binance.US despite the objection of the United States Securities and Exchange Commission and state regulators.

Interpretation of this information:

The news came out that despite the opposition of the United States Security and Exchange Commission (SEC) and other state regulators, the bankruptcy judge of Voyager Digital allowed the transaction with Binance.US. This indicates a significant breakthrough as the decision defied the SEC’s stance towards Binance.US, which is currently under fire for its lack of regulatory compliance.

Voyager Digital, a crypto brokerage firm, has been struggling with bankruptcy since April 2020 due to an erroneous business strategy. Recently, the company proposed to sell its assets, which include client data and a trading platform, to Binance.US for $70 million worth of crypto. The SEC and state regulators objected to the proposal, arguing that Binance.US has a track record of regulatory violations and that the transaction would put Voyager clients at risk.

However, the bankruptcy judge found that the deal would provide significant benefits to the creditors of Voyager Digital and therefore ruled in favor of the transaction. The judge’s decision sets a precedent for the crypto industry, highlighting the limitations of regulatory bodies to prevent certain crypto transactions.

This ruling also indicates that despite its ongoing regulatory issues, Binance.US remains a significant player in the crypto market. Binance.US has recently faced backlash from regulators in the UK, Japan, and Canada, among other countries, due to regulatory violations. The company has also been accused of lacking transparency in its operations, making the decision by Voyager Digital’s bankruptcy judge to approve the transaction all the more controversial.

In conclusion, the Voyager Digital versus Binance.US ruling is a significant development in the cryptocurrency industry, with implications for how regulatory bodies govern the industry. The ruling defies the SEC’s stance towards Binance.US and indicates that regulatory bodies have limited reach when it comes to blocking certain transactions. Binance.US’s history of regulatory compliance violations underscores the challenges and risks associated with this fast-evolving industry.