The Securities and Exchange Commission has intervened in a deal that would see Binance US buy the assets of a bankrupt crypto lender, in a sign of how US authorities are stepping up their scrutiny of the digital asset exchange.
Wall Street’s regulator filed an objection to Binance US’s proposed $1bn acquisition of assets belonging to Voyager Digital, which fell into bankruptcy last summer as a sharp downturn in token prices prompted the collapse of several once-prominent crypto companies.
Binance, the world’s biggest digital asset exchange, and its global affiliates have come under increasing focus among crypto investors and regulators after the collapse last year of FTX consolidated the crypto empire’s leading role in the industry.