Securities and Exchange Commission staff believe Binance.US is operating an unregistered securities exchange in the United States, a lawyer said during a Voyager Digital bankruptcy hearing on Friday evening.
“The commission has not made any determination on either of these issues and the staff beliefs do not represent the position of the commission,” Uptegrove said during a hearing in the U.S. Bankruptcy Court for the Southern District of New York. Commissioners vote on enforcement actions based on recommendations provided by staff.
The comments come as the SEC ramps up its crypto enforcement activity, including settling with crypto exchange Kraken over its staking service last month and proposing tighter rules for crypto custodians. Representatives for Binance and Binance.US did not immediately comment.
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