![]() “If any issues arise in the customers’ access to or use of Binance.US’s services, the customers have absolutely no right to challenge the issue.”Īnother major point that the filing highlights is that the plan appears to discriminate unjustly against Texas customers. But then, if any issues later arise, the account holders will have no legal rights whatsoever. That is, as opposed to the 51% they could receive under Chapter 7.įurthermore, Texas also notes that Binance.US failed to let account holders know that they will be required to allow their “personally sensitive information” to be transferred to any party in any part of the world. Texas Issues Reservations about Binance.US Terms of ServiceĪccording to the court document, Binance.US does not expressly state in the plan that unsecured creditors may only recover between 24 to 26% of their funds. However, new revelations show that there might be some inadequacies in the company’s terms of service. Recall that in December, Coinspeaker reported that Binance.US has agreed to buy Voyager’s assets for just over $1 billion. The motion, which was jointly submitted by the Texas State Securities Board and the Department of Banking, has some reservations about the terms and conditions of the deal. Coinspeaker Texas Disapproves Proposed Deal between Binance.US and Voyager DigitalĪ recent court filing has revealed that Texas is moving against the proposed buyout deal between Binance.US and defunct crypto lender Voyager Digital. ![]()
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