Regulatory uncertainty clouds layer-2 sequencers as industry and SEC differ
Coinbase chief authorized officer Paul Grewal and Base founder Jesse Pollak argued that Layer-2 (L2) sequencers represent infrastructure reasonably than exchanges. Their statements contradict the present regulatory stance, contemplating SEC Commissioner Hester Peirce has beforehand warned that centralized matching engines may face exchange registration requirements. Grewal compared Base’s sequencer to Amazon Web Services in a…
