Voyager Digital Plans to Return Funds to Users in March via Binance.US Accounts

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Bankrupt crypto broker VoyagerDigital has unveiled a debt repayment plan that will reimburse its customers through Binance.US accounts starting in March.

Voyager Digital's announcement states thatAn agreement with Binance.US to buy out the company's assets in the amount of $1 billion will be concluded by March. This will allow Voyager clients to expect access to their assets in the near future. To receive a refund, they must register their accounts on the Binance.US platform and provide personal information such as email addresses, social security numbers and dates of birth.

The company draws the attention of users thatThe refund amount will not be the full value of the clients' assets. The payment amount will depend on market prices and will be a percentage of the claim amount after Voyager's assets are rebalanced.

Voyager also notified usersseveral US states, including Hawaii, New York, Texas and Vermont, that they will have to wait at least six months for refunds to begin until Binance.US receives regulatory approval to provide cryptocurrency services in those states. If Binance.US does not obtain the necessary licenses to operate in unsupported states, then client assets may be converted into fiat currency and distributed separately.

Binance concerns.US about possible problems in obtaining the necessary licenses are not unfounded. In January, the US Securities and Exchange Commission (SEC) filed an objection to Binance.US's proposed plan to buy Voyager in New York bankruptcy court. The regulator believes that the purchase agreement does not contain details about measures to protect the assets of the exchange's clients, as well as the ability of Binance.US to close the transaction.