A federal judge has issued a temporary suspension on the sale of Voyager Digital assets to Binance.US, halting a $1.3 billion acquisition deal.
The decision was made after concerns were raised regarding the possibility that the sale could potentially violate US securities laws. The court's ruling is seen as a significant setback for both companies involved in the deal, who had hoped to finalize it by June 2021.
In response to the news, Voyager Digital released a statement saying that they are "disappointed" with the court's decision but will continue to work towards resolving any legal issues and completing the transaction with Binance.US.
Binance.US also responded with a statement, in which they expressed their commitment to complying with all applicable laws and regulations governing their business operations.
This latest development comes amid increasing regulatory scrutiny over cryptocurrency transactions and acquisitions. The US Securities and Exchange Commission (SEC) has been closely monitoring these activities, particularly those involving digital assets deemed as securities under US law.
As such, this temporary suspension on Voyager Digital's sale of assets is likely not an isolated incident. It serves as yet another reminder that companies operating within this space must comply with relevant regulations or face legal consequences.
For now, it remains unclear whether or not this acquisition deal will ultimately be allowed to proceed following resolution of any outstanding legal issues.