Binance CEO Reiterates Support for Voyager Deal Despite SEC Objections

In December 2022, Binance US entered into an agreement to acquire Voyager Digital, but the SEC opposed the acquisition. The regulator's lack of explanation and action on the matter was questioned by US Bankruptcy Judge Michael Wiles on Thursday.

During the hearing, Wiles expressed his surprise at the regulator's failure to take any concrete action, saying, “Deliberative is one thing, but what have you done？ If there are reasons to be concerned here, I need to hear specifics.” He also criticized the SEC's inability to provide any meaningful information to the court.

In response to a tweet by CryptoPotato regarding the matter, Changpeng Zhao, the CEO of Binance, tweeted, “Maybe we should pull out” However, he later clarified that the company remains committed to the Voyager deal and returning funds to users as quickly as possible.

Despite recent headlines suggesting that Zhao was contemplating backing out of the Voyager deal due to US regulatory scrutiny, a Binance spokesperson has dismissed these claims, confirming the company's commitment to the transaction.

The SEC's objection to the Voyager deal is part of a wider crackdown on cryptocurrency exchanges in the US. In recent years, the regulator has increased its scrutiny of the cryptocurrency industry, particularly with regard to the regulation of initial coin offerings (ICOs).

While Binance has faced regulatory challenges in the US, it has continued to expand its operations around the world. The company recently launched a new fiat-to-crypto exchange in Turkey and has plans to expand into other countries in the coming months.

In the face of regulatory challenges, Binance has been working to strengthen its compliance measures. The company has implemented a number of new policies and procedures to ensure that it meets regulatory requirements in the jurisdictions in which it operates.

Binance has also been working to improve its security measures in the wake of several high-profile hacks that have affected the cryptocurrency industry in recent years. The company has implemented new security protocols and has hired a team of experts to help identify and mitigate potential security risks.

Despite the challenges faced by the cryptocurrency industry, Binance remains optimistic about the future of cryptocurrencies. The company believes that cryptocurrencies have the potential to revolutionize the financial industry and that they will play an important role in the global economy in the years to come.

In conclusion, Binance CEO Changpeng Zhao has reaffirmed the company's commitment to the Voyager deal, despite objections raised by the SEC. While the regulatory environment for cryptocurrency exchanges remains uncertain, Binance is continuing to expand its operations and strengthen its compliance measures. With its focus on innovation and security, Binance is well-positioned to thrive in the rapidly-evolving cryptocurrency industry.

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