"There is something that is not in the eyes of the SEC, how is he supposed to satisfy the SEC."
It has been reported that the United States Securities and Exchange Commission (SEC) objected to the plan of US cryptocurrency exchange company Binance that intends to buy Voyager Digital for $1 billion.
Even in order to avoid any obstacles when Binance US succeeded in acquiring Voyager, the SEC also wanted to know the method that Voyager would use to recover its client's assets.
Additionally, the SEC is demanding more details regarding Voyager's crypto portfolio to ensure that its customers' funds can be returned without any hurdles.
In context, Binance US entered into an agreement with Voyager to acquire its assets in mid-December after FTX US won the purchase bid in late October but failed.
In the meantime, the crypto market reportedly suffered a severe fall when Voyager filed for Chapter 11 bankruptcy in early July.
So far, Voyager's total market capitalization jumped 1.7% at %854 billion in the past 24 hours but still has volatile movements.
In general, most investors are beginning to think that SEC Chairman Gary Gensler has no intention of further developing cryptocurrencies globally, and instead imposes stricter restrictions.
