A decision that is of great significance has been handed down by the United States District Court for the Southern District of New York. A judge named Gregory Woods gave his approval to an order that required Voyager Digital and its affiliates to make a payment of $1.65 billion to the Federal Trade Commission (FTC) of the United States of America. This ruling, which was submitted on November 28, 2023, comes after a settlement was negotiated between Voyager and the Federal Trade Commission in October. This settlement marks a significant turning point in the regulatory control of bitcoin lending companies.
Legal action was taken by the Federal Trade Commission against Voyager Digital and its former CEO, Stephen Ehrlich, for making false statements about the security of consumer cash. In particular, they made a misleading assertion that client accounts were protected by the Federal Deposit Insurance Corporation (FDIC), which was a…
