Regulators from the state of Texas and the state’s attorney general are objecting to FTX purchasing Voyager Digital.
at the end of July, that he was “happy to do what we can to get liquidity to Voyager’s customers.”
However, regulators from the state of Texas and the state’s attorney general want to stop the acquisition because they believe regulators, and the Texas securities commissioner need to investigate FTX. While FTX is a money services business with FinCEN, the Texas SSB insists FTX is “not, however, registered as a money transmitter or in any other capacity with the Texas Department of Banking and it is not registered as a securities dealer with the Texas State Securities Board.
“An ongoing investigation by the Enforcement Division of the Texas State Securities Board, [shows] the yield program appears to be an investment contract, evidence of indebtedness and note, and as such appears to be regulated as a security in Texas as provided by Section 4001.068 of the Texas Securities Act,” Rotunda’s filing explains. “At all times material to the opening of this FTX account, FTX Trading and FTX US have not been registered to offer or sell securities in Texas.
“FTX is excited to be regulated in Dubai by VARA! We’re excited to expand out our presence in the city, and to work with regulators who have taken the lead in establishing a regulatory framework for digital assets, protecting customers, and allowing for innovation,” the FTX CEO
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