There is speculation that the increasing number of attacks targeting the cryptocurrency industry, as well as the challenges faced by traditional banking institutions in this area, may be part of a coordinated effort to undermine the stability of the crypto sector.
At first, the SEC officials objected to the Voyager plan, citing Binance.US's alleged operation of an unregistered securities exchange. Currently, the DOJ has become involved.
Judge Michael Wiles of the US Bankruptcy Court has authorized Voyager's reorganization plan, which calls for Binance.US to buy the business. As part of the agreement, Binance.US will hand over the crypto assets placed by Voyager clients, which were assessed at $1.3 billion in February, and give $20 million in cash to Voyager.
There is a high level of interconnection between Binance.com and Binance.US, including shared personnel and financial resources, as well as an affiliated entity.
The Hongkong and Shanghai Banking Corporation (HSBC) and National Building Society have joined the growing list of mainstream UK banks that have restricted crypto purchases. Both banks have barred customers from using credit cards to buy crypto, while Nationwide has reduced the debit card transaction limit for crypto to £5,000. These decisions follow efforts by the UK Financial Conduct Authority (FCA) to standardize the digital asset industry and regulate the use of cryptocurrencies, which the FCA deems as “high risk”.
Binance, one of the world's largest cryptocurrency exchanges, has reaffirmed its support for the Voyager deal, despite objections raised by the US Securities and Exchange Commission (SEC).
Binance has set April 2 as the date for the next large-scale token burn following the success of its first LUNC burn.
A bankruptcy judge in the United States has slammed the Securities and Exchange Commission (SEC) for raising vague concerns about crypto lender Voyager Digital's proposed sale to Binance.US
Binance is seeking a license in Singapore to provide corporate clients in Singapore with crypto custody services.
Binance, the world's biggest cryptocurrency trading platform, is said to be in talks with Lee Woong-yeol, the senior head of Kolon Group, a South Korean pharmaceutical and textile company, about launching a new virtual asset exchange in the nation.
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