Binance.US Is Operating ‘Unregistered Securities Exchange,’ SEC Official Says

A U.S. Securities and Exchange official said agency staff believe Binance.US is operating an unregistered securities exchange in the U.S., and that staff believe the sale of VGX tokens by Voyager Digital violated federal securities laws.

Speaking at a bankruptcy hearing to determine if Voyager should be sold to Binance.US, SEC Senior Trial Attorney William Uptegrove said he was responding to Judge Michael Wiles, of the Southern District Bankruptcy Court in New York, who said at the outset of the hearing that the SEC had provided little guidance or specifics about its objection to the Voyager sale.

“The staff believes – based solely on the facts and circumstances currently known to the staff – that the offering and sale of VGX tokens has the attributes of a securities transaction,” he said. “The staff also believes that Binance.US is operating an unregistered securities exchange in the United States.”

Source: Binance.US Is Operating ‘Unregistered Securities Exchange,’ SEC Official Says