Voyager Reaches Resolution With UCC And Government
Voyager, the United States Commodity Futures Trading Commission (UCC), and the Government have reached a resolution that will enable Voyager’s Plan to move forward and become effective shortly. The resolution has been encapsulated in a joint stipulation that states that the appeals will continue concerning the Plan’s exculpation provision. However, the Government has agreed that the Plan may move forward without such provision and will not be subject to the stay otherwise.
2/ The resolution is embodied in a joint stipulation providing that the appeals will continue with respect to the Plan’s exculpation provision. The Government has agreed that the Plan may move forward without such provision and will not otherwise be subject to the stay.
— Voyager Official Committee of Unsecured Creditors (@VoyagerUCC) April 19, 2023
Overcoming Regulatory Hurdles
Voyager Digital Ltd is a publicly-traded cryptocurrency platform that allows customers to buy and sell cryptocurrencies like Bitcoin, Ethereum, and others. However, the platform ran into regulatory issues in the US, leading to the involvement of the UCC and the Government. The parties have been working on a Plan to address these issues and move forward with the platform’s operations.
The joint stipulation provides a significant breakthrough in the regulatory hurdles that Voyager has been facing. The company and the UCC are currently working with Binance.US, a leading cryptocurrency exchange, to expedite the process of moving forward as quickly as possible once the stipulation is approved by the District Court.
Compliance Plan
The stipulation allows Voyager to move ahead with its Plan, which is aimed at addressing the issues raised by the regulatory authorities while also ensuring that customers continue to have access to the platform’s services. However, the appeals will continue concerning the Plan’s exculpation provision, which is a provision that shields the company’s management from any legal liability for the platform’s operations.
Voyager has been committed to working with regulatory authorities to ensure that it operates in compliance with all relevant regulations. The resolution represents a significant step forward for the company in achieving this goal, as it allows it to move forward with its operations and continue to provide its customers with access to cryptocurrency trading services.
The joint stipulation reached by Voyager, the UCC, and the Government provides a significant breakthrough in the regulatory hurdles that Voyager has been facing. The resolution allows Voyager to move forward with its Plan and continue to provide its customers with access to cryptocurrency trading services.
