In a filing in New York bankruptcy court, NYDFS objected to Binance’s acquisition of the customer assets of Voyager, which has filed for Chapter 11, saying the acquisition “both furthers [Voyager’s] unlawful unlicensed crypto-currency-related activities in New York and does so to the discriminatory disadvantage of New York consumers.” Some takeaways:
• DFS alleges Voyager unlawfully opened accounts on its platform on behalf of New Yorkers without a DFS license
• DFS appears to have been unaware of this, and does not appear to be taking any enforcement action against Voyager
• Both Voyager and Binance have applied for cryptocurrency licenses from DFS, both of which are currently pending
• DFS says that “some news outlets suggest that [Binance] may be headed toward criminal indictment.”
The objection may be found here: 1673020307296 Objection