The Federal judge oversees bankrupt crypto lender Voyager Digital’s effort to sell itself to Binance The US has harsh words for the U.S. Securities And Exchange Commission (SEC) attorney over the agency’s view that there may be violations of federal law.
SEC Senior Trial Attorney William Uptegrove Friday Staff of the SEC believed Binance US may have an unregistered U.S. securities exchange, which could lead to a claim that Binance The US protested. On Monday, U.S. Bankruptcy Judge Michael WilesOf New York’s Southern District Bankruptcy CourtSEC Senior Trial Attorney Therese Scheuer Whichever Binance US Voyager This claim could have been known before. Friday.
He SEC also suggested that it may not be sufficient to justify a delay in approbating the deal.
“Bankruptcy code doesn’t contemplate an endless period of time,”The judge stated that. “Things have to be done. We have creditors who are waiting and who in the midst of all this uncertainty have no access to property in which they’ve invested in some cases their life savings, so we have to take some kind of action. We have to do something.”
The Judge ruled that the parties wanted to grant the SEC regulatory freedom “to the extent that it makes sense”However, the bankruptcy itself was much more urgent. The The third day of bankruptcy hearings began Monday. While The hearing began with questions about various people who were tied to it. Voyager, Binance The US and the other participants in the proposed deal were not present on day three. They were more concerned with objections to it.
Scheuer Some of the disclosures included in the proposal were rejected. This includes a lackluster explanation of possible regulatory concerns. The Judge appeared to disagree with this point.
“I have no idea how long I can do nothing and wait until Congress and the competing regulatory authority sort out amongst themselves, just who has what authority over what aspects of this, what kind of authority. I have no idea how long that’s going to take and we can’t do that in bankruptcy,”He said. “… we can’t just put everything on pause just because we don’t know for sure how the regulators will eventually make up their minds on points that they seem to have been debating for years.”
Representatives From the U.S. Trustee’s This isfice, the Texas Attorney General’s office and the New York Department of Financial Services Also, you were weighed in at the hearing.
The The judge indicated that he could make a decision in as little as 24 hours. TuesdayWhen the hearing resumes,
