​​Binance.US sent a letter to Voyager Digital on Tuesday, terminating its $1 billion digital asset buyout opinion from the crypto lender.

“Whereas this trend is disappointing, our chapter 11 opinion enables for utter distribution of cash and crypto to customers (a ‘toggle possibility’) by the Voyager platform,” said Voyager in a tweet.

The agency plans to provide data on the next steps to reimburse collectors of the platform thru utter deposits, and said that Binance.US would now be required to raze all Voyager customer data it has got under the terms of the deal.

In a tweet quickly after Voyager’s announcement, Binance.US attributed the choice to full the deal to a “antagonistic and unsure regulatory local weather” within the U.S.

The decision also comes despite the fact that Voyager’s creditor committee reached an settlement with the U.S. authorities on April 20 that will well presumably well allow the deal to head forward as planned.

On the time, the authorities’s approval was seen as a accumulate for the bankrupt crypto lender and its collectors, following months of backward and forward with securities regulators since the deal was first announced in December.

In the period in-between, Binance has been in conversations with officers from the U.S. Commodities and Futures Procuring and selling Price (CFTC) concerning an ongoing lawsuit filed by the regulator final month. The CFTC charged Binance and its CEO Changpeng Zhao (CZ) with violating U.S. rules by unlawfully working a derivatives alternate within the country.

Per CFTC commissioner Kristin N. Johnson, the conversations between the regulator and the crypto alternate in its crosshairs have not yielded any resolutions objective yet.

“As of the moment, we can attain that there isn’t any longer an instantaneous course forward,” Johnson said in an interview with CNBC.

“That doesn’t mean there couldn’t be one and confidently there’ll most certainly be one,” she added.