Michael Wiles, a judge in the Southern District of New York, ruled that Binance.US' $1 billion acquisition of Voyager Digital's assets should go ahead in a court filing on Wednesday. The US Justice Department's appeal to pause the deal was denied.
Last week, Michael Wiles approved Voyager Digital's Chapter 11 plan, allowing the company to sell its assets to Binance.US. But US Attorney Damian Williams appealed against the sentence, arguing that the deal would absolve Voyager and its staff of violations of tax or securities law, thus should be amended or struck down.
Michael Wiles said the deal does not cause such things, and waiting longer would harm Voyager clients. He said that provisions in the deal "do not prohibit any regulatory action, including actions to stop the cryptocurrency sales and distributions that the plan contemplates".
"Delays themselves also are a massive issue for the debtors' customers." he added.
In addition, Voyager agreed the deal, which was set to come into effect March 15th, to be extended to March 20th.
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Policy and Regulation