The US Securities and Exchange Commission is pushing back on Binance.US’s plan to buy bankrupt crypto lender Voyager Digital in a deal valued at about $1 billion, according to a bankruptcy court filing, Bloomberg News reported. The purchase agreement underpinning the deal doesn’t include sufficient detail about Binance’s ability to close the transaction, the SEC said in a limited objection Wednesday. More disclosure is needed about what Binance’s U.S. operations will look like following the deal, along with more information about how customer assets will be secured, lawyers for the SEC said. “A diligent review of the deal is to be expected and welcomed,” Binance.US said in a statement. “We will work with the relevant parties to provide any requested information. We look forward to completing the transaction and bringing Voyager customers to Binance.US.” The SEC has communicated the concerns to Voyager’s lawyers and has been advised that revised documents will be filed, according to the objection. The agency added it reserves the right to amend its objection later.
