"Binance.US’ staking program differs from traditional crypto staking and appears to constitute an illegal securities offering,” Joe Rotunda, director of enforcement at the Texas State Securities Board, said in a statement. Bankruptcy Court for the Southern District of New York, also detailed concerns over Binance’s business model. The document, which was filed in the U.S. The Binance.US deal, which is worth $1.02 billion, should also be quashed because customers weren’t warned personal data could be transferred to underregulated overseas jurisdictions, the filing also said. Voyager lawyers have said the Binance.US deal has significant creditor support, but the Texas filing says they weren’t sufficiently warned about the risks of Alameda, the trading arm of collapsed crypto exchange FTX, successfully clawing back loan repayments made before its own bankruptcy. “If Alameda is successful in proving its administrative expense claim … recovery could be decreased from 51% to 24%-26% – an amount much lower than what the general unsecured claimants are estimated to receive in a Chapter 7 liquidation,” said the court filing, which was also backed by securities regulators from New Jersey. The filing by the Texas banking and securities agencies said that Voyager’s creditors might be better off if the company simply liquidated assets and warned that would-be buyer Binance.US may be illegally offering securities through its staking program. The benefits to creditors from an offer from Binance.US to buy bankrupt crypto lender Voyager Digital hinge on a $445 million loan claim by Alameda Research, making the deal potentially not worth bothering with, Texas regulators said in a Friday court filing. It does not store any personal data.Join the most important conversation in crypto and web3! Secure your seat today The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. The cookie is used to store the user consent for the cookies in the category "Performance". This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other. The cookies is used to store the user consent for the cookies in the category "Necessary". The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". The cookie is used to store the user consent for the cookies in the category "Analytics". These cookies ensure basic functionalities and security features of the website, anonymously. Necessary cookies are absolutely essential for the website to function properly. It is unfortunate that customers from Texas cannot legally use it now. ![]() Even after experiencing a hack, the platform has strengthened its security, and there is two-factor verification too. If you are into cryptocurrency, we suggest using Binance, as it has lots of features to help its customers. In cases like this, you can contact the Binance support center for proper instruction on what to do. So, if it is absent, know that the sender is a fraud. Is Your Binance Email Address Legit or Scam?Īny legitimate sender from Binance will have the domain name of the platform at the end of their email address. It has excellent transparency, liquidity, and many helpful features. The platform is the world’s largest cryptocurrency exchange even after starting its journey in 2017. But in terms of popularity, Binance scores pretty high in the cryptocurrency market. Is Binance the Best Cryptocurrency Trading App?īest is a subjective term. ![]() ![]() You have to submit your demand, and they will get to you. Their response time is generally around a day. ![]() However, if you have any issues or questions, you can contact them from their customer support section. There is no support phone number so far in Binance. In the last month of 2020, the app was updated by Binance US to add some useful features like live price tracking. It makes it easier for many people to use the service faster. Binance Mobile AppĪside from its different websites, Binance also has a mobile app. As a result, no citizen in Texas can legally exchange or store their cryptocurrency unless they use illicit methods like using VPN. However, as of March 2021, state law has illegalized this platform. Whether Binance Work in Texasīinance does not work in Texas anymore. Known as Binance US, the service is illegal in some states, including Texas, Connecticut, New York, Idaho, Hawaii, etc. However, the platform uses a different website for their customers in this nation. Binance Related Topics The Legality of Binanceīinance is actually legal in almost all states in the USA.
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