Prime Trust filed for bankruptcy in August, roughly two months after Nevada regulators alleged the company was unable to meet its customers’ withdrawal requests. The company also used customer funds to invest in failed stablecoin project Terra, in addition to engaging in other dubious business practices, a court filing shows.

“One area this will be used is on occasions where assets have been identified, significant links to criminality can be proven, but the subject of the investigation is unlikely to face justice in the U.K. – think of those committing fraud outside of the U.K. and targeting U.K. residents,” said Ariss, who was crypto lead at the U.K. National Police Chiefs’ Council cybercrime unit and is on sabbatical from the U.K. police force.

Following an appearance from Anthony Scaramucci – the financier famous for his brief stint as Donald Trump’s communications director – Ramaswamy’s remarks speak to crypto’s growing prominence in the U.S. political landscape. As Selkis noted as he welcomed Ramaswamy to the stage, “If you told me a couple of years ago that we’d have a major presidential candidate talking at a crypto conference, I don’t think anyone would have believed it.”

Juliano: I do strongly believe that layer 2s will get to a point where the sequencer is a network, rather than just a single operator. And that will make the sequencers much more decentralized, censorship-resistant. But the problem with having a single sequencer on layer 2’s right now is, the single sequencers are not censorship-resistant, right? It’s just like, literally a server, and the server can refuse to process your transactions if it wants to. Like, I’m not trying to pick on anyone, like literally all of them are like this, but let’s just take like Coinbase or Base as an example. Coinbase is literally running a server that is the sequencer for the Base chain. And if they want to reject your transaction, for whatever reason, they can do that. And, you know, I think they’re trying to be as impartial as possible. And that’s awesome. But that is not totally decentralized, I may say. And just to prove the point that I kind of understand most of the arguments at least, OK, there’s a way to get around the censorship-resistance switches. Effectively, you can go back to layer 1, and send a transaction to layer 1 and be like, Oh, Coinbase, you have to include my transaction now because I went to the layer 1. But that’s a terrible product experience, right? Like maybe that works for some edge cases, or if like the less than 1% of the time when, for some random reason somebody’s being centralized by a sequencer. But if there’s a good amount of opportunity for a sizable amount of the transactions to be censored on a given sequencer, for whatever reason, then this may not be something that you want for your network as much.

“The ongoing DOJ and SEC cases vs. Binance may have dissuaded market makers from trading on Binance, explaining parts of the decline,” K33 Research senior analyst Vetle Lunde said. “Some market making has probably leaked to other exchanges, but it’s still almost certain that Binance’s woes negatively impact market volumes,” he added.

Licensees would need to assess legal, reputational and market risks of any new coins, and they’d also have to set out how they would reverse the process by de-listing a token, according to the consultation, proposed by NYDFS Superintendent Adrienne Harris.