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Voyager Digital denies SEC allegations regarding VGX Tokens, cites delay with Binance US as a risk

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It is reported that according to the latest court documents submitted by the encryption lender Voyager Digital, Voyager denied the SEC\’s allegation that \”its n…

Voyager Digital denies SEC allegations regarding VGX Tokens, cites delay with Binance US as a risk

It is reported that according to the latest court documents submitted by the encryption lender Voyager Digital, Voyager denied the SEC’s allegation that “its native Token VGX belongs to securities”, and said that the delay in the transaction with Binance US due to the event would cause Voyager to lose about US $10 million per month.

Voyager: VGX is not classified as a security, and the delayed transaction with Binance US resulted in a monthly loss of US $10 million

Interpretation of the news:


Voyager Digital, a Canada-based cryptocurrency trading platform, has reportedly denied the allegations made by the US Securities and Exchange Commission (SEC) that its native token VGX belongs to securities. According to court documents submitted by the company, it has refused to accept the allegations, leading to a delay in the transaction with Binance US. The platform also claims that the delay has led to a potential loss of $10 million per month.

Voyager Digital’s dispute with the SEC began earlier this year when the regulator alleged that the company had offered unregistered securities in its initial coin offering (ICO). The SEC claims that Voyager Digital raised $8.6 million by selling VGX tokens to investors, without registering the tokens as securities. In response to the allegations, Voyager Digital has filed court documents denying the accusations, claiming that VGX tokens are not securities.

The delay in the transaction with Binance US is seen as a significant risk for Voyager Digital. Binance US is one of the leading cryptocurrency exchanges in the world, and a partnership with the platform could provide Voyager Digital with a crucial opportunity to expand its reach. However, the delay in the transaction could mean that Voyager Digital would lose significant revenue, as Binance US is a significant partner in the company’s operations.

The denial of the SEC allegations by Voyager Digital shows the controversy that surrounds the issue of regulatory oversight of cryptocurrencies. While advocates of cryptocurrencies argue that they should not be subject to the same regulatory scrutiny as traditional financial products, regulators argue that they should be treated as securities. The SEC’s allegations against Voyager Digital show that the debate is far from over.

In conclusion, the dispute between Voyager Digital and the SEC highlights the ongoing debate over whether cryptocurrencies should be treated as financial products or securities. The denial of the SEC allegations by Voyager Digital shows the company’s determination to defend its position, while the delay in the transaction with Binance US underscores the potential risks of a prolonged dispute. The case is likely to be closely watched by the cryptocurrency community and could have significant implications for the industry.

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