The Daily Hodl
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
No Result
View All Result
The Daily Hodl
No Result
View All Result

US Judge Shuts Down SEC, Says Agency Will Not Be Allowed to Interfere With Crypto Bankruptcy Proceedings

by Daily Hodl Staff
March 7, 2023
in Regulators

A judge in the Southern District of New York says he will stop the SEC from interfering with a bankruptcy case by claiming a new crypto asset is a security.

Judge Michael Wiles says he will not allow the U.S. Securities and Exchange Commission to punish executives and advisors working on proposals to create a new token that would help repay customers, reports Bloomberg.

The SEC issued an objection to bankruptcy proceedings for the embattled crypto lender Voyager early this year, which would help repay customers affected by the lender’s collapse.

Judge Michael Wiles initially said he needs specifics on why the SEC objects and why it has decided to “stop everybody in their tracks” with little to no explanation of its concerns.

Now, in a new ruling, Judge Wiles says the SEC’s stance would do nothing but damage, leaving “a sword hanging over the heads of anybody who’s going to do this transaction.”

The judge blasted the SEC’s interference, asking, “How can a bankruptcy case or any court proceeding function with that kind of suggestion?”

The bankruptcy proceedings stem from Binance.US’s acquisition of more than $1 billion worth of assets from Voyager, a deal that was signed after FTX’s plans to acquire the assets vaporized.

Judge Wiles says that in the future, the SEC can pursue Binance.US or Voyager’s attempts to actually issue a bankruptcy token.

But he says it would be plainly wrong to punish individuals for working on their proposals in court.

Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

Check Latest News Headlines


 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Marian Salabai/Natalia Siiatovskaia

Submit a Press Release

Industry Announcements

  • WOW EARN Unveils Layer One Blockchain, Redefining Efficiency and Global Accessibility
    December 5, 2023
  • LandX Closes Private Round Securing Over $5 Million in Private Funding
    December 4, 2023
  • Chromia Confirms Mainnet Release in 2024
    December 4, 2023
  • CAGA Crypto – Decentralized Financial Movement Unveiled on MEXC and Bitget
    December 4, 2023
  • TMNG Tokens Successfully Listed on MEXC Crypto Exchange
    December 1, 2023
  • Sui Surpasses $150 Million in TVL, Showcasing Blistering DeFi Momentum
    November 30, 2023
  • Duelbits Announces Landmark Collaboration With Football Icon Luis Suárez
    November 29, 2023
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$43,530.66
$43,530.66
3.93%
Ethereum
$2,266.58
$2,266.58
1.34%
Cardano
$0.419878
$0.419878
3.93%
XRP
$0.615785
$0.615785
0.61%
Dogecoin
$0.099291
$0.099291
10.13%

Spotlight

  • Bitcoin Forming Bullish Picture As BTC Gears Up To Leave 15-Month Accumulation Phase Behind: Crypto Analyst
    November 28, 2023
  • 100 Biggest Tether Whales Add $1,670,000,000 in USDT in Six Months, Says Analytics Firm Santiment
    November 28, 2023
  • Whales Start Shifting DEX Token Ahead of Massive $505,500,000 Unlock
    November 28, 2023
  • ‘One of Most Bullish Charts I’ve Seen’ – Ex-Goldman Sachs Executive Details Ethereum Outlook As ETH Prints New Pattern
    November 28, 2023
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Covering the future of finance, including macro, bitcoin, ethereum, crypto, and web 3.

Categories

Bitcoin • Ethereum • Trading •
Altcoins • Futuremash • Financeflux •
Blockchain • Regulators • Scams •
HodlX • Press Releases

 

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT | ADVERTISE

JOIN US ON TELEGRAM

JOIN US ON X

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2023 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise

© 2023 The Daily Hodl