Binance.US has withdrawn from its one billion dollars worth agreement of buying cryptocurrency brokerage Voyager Digital’s assets, over “the hostile and uncertain regulatory climate in the United States,” as stated by Cointelegraph.
According to Cointelegraph, on April 19, 2023, Voyager, Voyager Official Committee of Unsecured Creditors and US government entered into an agreement around the purchase. It’s believed that the agreement had been blocked on March 28, 2023. “The Committee is incredibly disappointed with this decision and is investigating potential claims against Binance.US,” Voyager Official Committee of Unsecured Creditors tweeted.
Based on information by Cointelegraph, Binance.US gave out the statement to “exercise its right to terminate the asset purchase agreement.” “While our hope throughout this process was to help Voyager’s customers access their crypto in kind, the hostile and uncertain regulatory climate in the United States has introduced an unpredictable operating environment impacting the entire American business community,” Binance.US highlighted.
Moreover, Cointelegraph noted that doubts exist over Binance.US’ change of plans. Sources suggest that Voyager and the creditors’ committee intend to develop the “toggle option” of funds and crypto distribution for consumers using the platform itself.
(With insights from Cointelegraph)