: The SEC and New York regulators formally opposed the deal, arguing it might involve the sale of unregistered securities .

While the Voyager deal was abandoned, the broader legal battle between the SEC and Binance reached a significant turning point recently:

: Binance.US officially terminated the agreement, citing a " hostile and uncertain regulatory climate " in the United States. Resolution of Broader Legal Actions (2025–2026)

: The SEC filed a "limited objection" to the deal, citing a lack of information regarding Binance.US's ability to fund the purchase and how it would secure customer assets.