- And he can't sell the exchange as a going concern to anyone else - because if his lawyers told him BTC-TC was illegal then they'd also have told him that he couldn't sell it (as a going concern) to anyone else. It's a bit like if you'd been dealing drugs : your lawyer would very strongly advise you NOT to sell your stock to some other dealer.
- He MAY be able to sell the code-base - as that isn't illegal. But obviously he's not going to even consider doing that until the exchanges are fully shut down.
He should make the code open source and just release it, that way someone with sufficient know-how may start a new exchange.
I really hope we don't have to rely on BitFunder in the future, let's hope Havelock wins something out of this!