US SEC official: Binance US is operating an unregistered stock exchange

According to reports, an official of the American Stock Exchange said that the staff of the agency believed that Binance US operated an unregistered stock exchange in the United States. The staff believed that the sale of VGX tokens by Voyager violated the federal securities law.

Interpretation of this information:

The reported comments made by an official from the American Stock Exchange could have significant implications for Binance US and Voyager, as they raise questions over their compliance with federal securities law. The allegation that Binance US may have operated an unregistered stock exchange in the United States suggests that the agency has concerns over the way the platform operates.

While it is not clear exactly what the staff at the American Stock Exchange are referring to when they suggest that Binance US may be operating an unregistered stock exchange, it could relate to the way that the platform allows users to buy and sell tokens. Unlike traditional stock exchanges, Binance US allows users to trade a range of digital assets, including cryptocurrencies and tokens. This means that users can buy and sell assets that may not be regulated as securities, and which may not have undergone the same level of scrutiny as traditional stocks.

The comment made about Voyager’s sale of VGX tokens also raises questions over the way that the platform is conducting its operations. It is not clear why the staff at the American Stock Exchange believe that the sale of these tokens is in violation of federal securities law, but it could relate to the way that they are marketed to investors. If the tokens are marketed as investments, or if investors are given the impression that they will receive a return on their investment, this could fall foul of securities laws.

Overall, the reported comments suggest that the American Stock Exchange is taking a closer look at the operations of both Binance US and Voyager. While it is not clear what actions the agency may take as a result of its investigations, the fact that it has raised concerns over potential violations of securities law suggests that there may be significant consequences for these platforms. Investors in digital assets should pay close attention to any developments in this area, as they could have a significant impact on the value of their investments.