Binance.US has pulled out of a US$1.3 billion deal to buy bankrupt crypto lender Voyager Digital, the company said Tuesday, citing a lack of clear regulations in the country for the crypto industry.

Binance.US tweeted on Tuesday that while its hope throughout this process was to help Voyager’s customers access their crypto, “the hostile and uncertain regulatory climate in the United States has introduced an unpredictable operating environment impacting the entire American business community.”