Binance.US, the US division of cryptocurrency exchange Binance, has just got the green light from Judge Michael Wiles after a four-day hearing to buy the assets of bankrupt crypto lender Voyager Digital, The Block has reported.
The platform offered the highest bid for Voyager's assets in December last year. However, the SEC and the New York State Department of Financial Services opposed the deal.
Subscribe to our Telegram channel to get daily short digests about events that shape the crypto world
According to the judge:
"I am in the absolutely unenviable position of having to make a ruling about the proposed transaction in the face of hearsay accusations of potential wrongdoing in an industry where other firms have apparently engaged in real wrongdoing. I have been given no evidence… that Binance.US will misuse customer assets, or that it cannot be trusted."
During the hearing, a representative of the SEC accused Binance's US branch of operating an unregistered securities platform, however, Wiles has pointed to a lack of evidence to support this claim.
Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange
In making the ruling, the judge has highlighted the unusual nature of the bankruptcy case and the uncertainty with the regulatory environment of the industry.