The New Jersey State Department of Securities ordered Voyager Digital LLC to “cease and desist” the sale of “Voyager Earn Program Accounts.”
The agency said the product, which has 1.5 million users and $5 billion in assets, is an unregistered security and therefore illegal.
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“The Commissioner of Securities is protecting the investing public by ceasing the offering and sale of these unregistered securities,” the order reads. While seeking to halt the inflow of new funds, the order does not seek to prevent Voyager from paying interest on pre-existing accounts.
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