Texas resolves securities allegations against Voyager Digital entities

What changed

Texas entered a consent order resolving allegations that Voyager entities offered unregistered crypto-related securities, acted without required dealer or agent registration, and made misleading statements concerning the Voyager Earn Program.

Who it affects

• Crypto lending and brokerage platforms, investment advisers, promoters, and Texas investors

What is still open

• Claims, distributions, and obligations arising through bankruptcy or other jurisdictions

What it means for an advisor

• Confirm state securities and intermediary registration, product characterization, yield-program disclosures, custody, insolvency, and promotional representations.