Prime Trust can’t honor customer withdrawals, says Nevada regulator

Cointelegraph connected to Prime Trust for remark but did not recieve an instant reaction. Publication: Cryptocurrency trading addiction– What to watch out for and how it is dealt with

” Statements made by the Nevada Department of Business and Industry against Prime Trust. Source: Nevada GovernmentPrime Trust has 30 days to react to the desist and cease order and can request an administrative hearing to object to the order.Related: TrueUSD assures users it has no direct exposure to struggling Prime Trust If Prime Trust fails to contest, the cease and desist order will be thought about final.On June 13, the payments subsidiary of Prime Trust, Banq, submitted for personal bankruptcy security in the United States.Since then, wallet facilities supplier and digital asset custodian BitGo confirmed on June 22 that it decided to cancel its acquisition of Prime Trust.After significant effort and work to discover a course forward with Prime Trust, BitGo has made the hard choice to terminate its acquisition of Prime Trust. This decision was not made gently and BitGo remains dedicated to our mission to deliver trust in digital assets.