In the second episode of this four-part series, Ethan, Addison, and Trey explore the CFPB's proposed rule to define a market for general-use consumer payment applications under its larger participant authority, and its impact on digital asset financial services companies. The group discusses the integration of digital assets into the traditional financial system and the associated regulatory concerns. The episode concludes with a discussion of two significant FTC enforcement actions filed against digital asset financial services companies in 2023, underlining the potential consequences for stakeholders operating in the industry.