The U.S. arm of the world’s biggest crypto-trading platform can work with the once TSX-listed crypto lender to close a sale agreement and a payout plan that could give customers about three-quarters of what they’re owed, U.S. bankruptcy judge Michael Wiles ruled. (Bloomberg)
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The U.S. arm of the world’s biggest crypto-trading platform can work with the once TSX-listed crypto lender to close a sale agreement and a payout plan that could give customers about three-quarters of what they’re owed, U.S. bankruptcy judge Michael Wiles ruled. (Bloomberg)
Talking point: Wiles rebuked lawyers for the U.S. Securities and Exchange Commission, which has been on an enforcement spree in the crypto sector, for trying to block the proposed US$1.022-billion sale: “I cannot put the entire case into indeterminate deep freeze while regulators figure out whether they believe there are problems with the transaction and plan.” An SEC lawyer arguing in court last week against the proposal revealed the regulator believes Binance.US is operating an unregulated securities exchange. The judge’s decision is a win for Binance.US, but the SEC’s position might spell bigger trouble for the platform down the road.
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