Binance US ‘operates an unregistered stock exchange’: SEC lawyer | coindesk JAPAN | Coindesk Japan

SEC Attorney William Uptegrove said on March 2 that Binance US operates an unregistered stock exchange in the United States, and Voyager Digital’s VGX token sale is a federal securities deal. The SEC staff said at a hearing on Binance US’s acquisition of Voyager’s assets that it believed violated the law.

Judge Michael Wiles of the Southern District of New York Bankruptcy Court, meanwhile, said at the outset of the hearing that the SEC had provided few details about its challenge to the sale of Voyager.

“The SEC staff believes, based solely on the facts and circumstances currently known to the staff, that the offering and sale of VGX tokens has the nature of a securities transaction. We think of ourselves as running a stock exchange,” said Aptegrove.

The SEC staff’s views do not necessarily reflect those of the five commissioners who set policy, he said. He did not say whether the SEC was taking any action related to his remarks.

Usually, a five-member majority vote is required for an SEC crackdown to begin.

Follows SEC Chairman Gensler’s remarks

“The SEC staff cannot allege that a platform like Binance US or ours operates an unregistered exchange without identifying that assets that the SEC considers to be securities are listed. We regret it,” said a Binance US spokesperson.

“We, along with others in the industry, remain committed to constructive dialogue with regulators and support of the comprehensive regulatory framework congressional drafted and passed to ensure continued innovation in America. go”

Aptegrove’s remarks build on previous statements by SEC Chairman Gary Gensler, who said he believes most cryptocurrency trading platforms should be registered as stock exchanges. I would recommend crackdown on.

Voyager plans to sell its assets to Binance US as part of its Chapter 11 (Chapter 11) restructuring plan. Most of Voyager’s creditors were in favor of the plan, and hearings were two days into their third.

｜Translation: coindesk JAPAN
｜Editing: Takayuki Masuda
| Image: Danny Nelson/CoinDesk
｜Original: Binance.US Is Operating ‘Unregistered Securities Exchange,’ SEC Official Says