1. PixelPlaygroundHome
  2. Metaverse Insights

SEC Lawyer: Voyager Digital’s Cryptocurrency is a Security that should be Regulated

• Metaverse Insights • 161 views

It is reported that a lawyer from the Securities and Exchange Commission of the United States said in court on Friday that the new cryptocurrency that Voyager …

SEC Lawyer: Voyager Digitals Cryptocurrency is a Security that should be Regulated

It is reported that a lawyer from the Securities and Exchange Commission of the United States said in court on Friday that the new cryptocurrency that Voyager Digital plans to issue to pay the bankrupt creditors is actually a securities that should be regulated. William Uptegrove’s comments on behalf of the United States Securities and Exchange Commission reflect the views of SEC staff, which may complicate the proposal of bankrupt cryptocurrency companies to repay creditors by issuing digital tokens. Part of the plan also includes the sale of Binance.US. Uptegrove opposed the proposal and responded to the challenge raised by the judge supervising the Voyager bankruptcy case against the views of the SEC staff. The lawyer said that the committee itself had not made a clear position.

SEC lawyer: Voyager’s bankruptcy token should be regulated

Interpretation of the news:


According to a lawyer from the US Securities and Exchange Commission (SEC), the new cryptocurrency that Voyager Digital plans to issue to pay bankrupt creditors is a security that should be regulated. This announcement may complicate the proposal of cryptocurrency companies to repay creditors by issuing digital tokens. William Uptegrove, who spoke on behalf of the SEC, stated that the views expressed reflect those of SEC staff. However, the committee itself has not yet made a clear position.

The statement is significant because it suggests that cryptocurrencies and digital tokens issued as compensation may be subject to SEC regulations in the future. Under current regulations, securities that are offered for sale to the public must be registered with the SEC. Failure to do so can result in severe penalties, including fines and imprisonment.

The development may impact Voyager Digital’s plan to repay its creditors through digital tokens. The sale of Binance.US is also part of the plan, which Uptegrove opposed. The lawyer raised concerns about the regulatory challenges associated with digital tokens, which were not resolved by the company’s restructuring plan. As a result, the offer may face more hurdles in the future.

The SEC’s position on cryptocurrencies has been scrutinized by other organizations. Some critics argue that the SEC’s approach to cryptocurrencies is stifling innovation in the industry. However, others have praised the agency’s cautious stance, pointing out that it helps investors avoid fraud and other risks.

In conclusion, the announcement by the SEC lawyer reflects the increasing attention that regulators are paying to cryptocurrencies and digital tokens. As cryptocurrencies continue to grow in popularity, it is likely that more regulatory oversight will be implemented to protect investors and prevent fraudulent activities. This development highlights the need for companies in the cryptocurrency sector to consider compliance with existing regulations regarding securities and digital tokens.

This article and pictures are from the Internet and do not represent Fpips's position. If you infringe, please contact us to delete:https://www.fpips.com/4947/

It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.

Like (0)
Previous 03/04/2023 00:30
Next 03/04/2023 01:12

Recommended articles