The U.S. Securities and Exchange Commission (SEC) has filed a limited objection to Binance.US’s  $1 billion acquisition of bankrupt cryptocurrency lender Voyager Digital, according to a bankruptcy court filing showed on Wednesday.

In its filing, the SEC questioned the adequacy of the information in Binance’s disclosure statement, which precisely details its ability of it to “consummate a transaction of this magnitude,” as well as how Binance plans to secure customer assets and details on how the exchange would rebalance its cryptocurrency portfolio. The regulator also wants Voyager to provide more detail on what would happen if the transaction is not completed by April 18.

The SEC stated that it has communicated its concerns to Binance and that a revised disclosure statement will be filed prior to the next motions hearing. A limited objection is similar to a normal objection in that it applies only to a portion of the proceedings.

Voyager intends to seek bankruptcy court approval for asset sales at a hearing on January 5. Separately, the Texas State Securities Board and the Texas Department of Banking objected to the transaction, claiming that Voyager and Binance.US are “not in compliance with Texas law and are not authorised to conduct business in Texas.”

They also object to the “disparate treatment provided to creditors in certain states.” The $1.02 billion bid reflects the fair market value of Voyager’s cryptocurrency portfolio, which is currently worth around $1.002 billion, as well as a $20 million incremental value consideration.

On December 19, Voyager announced that it had agreed to Binance US’s bid to acquire its assets in a $1.022 billion deal. The lender stated that the bid was the “highest and best bid for its assets,” maximising the value returned to customers and creditors “on an expedited timeframe.”