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Issuers can switch on powers over the tokens they issue.

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The powers are public on the ledger, but almost no wallet shows them.

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They decide whether a token is really yours.

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An issuer can freeze one holder's trust line, so that holder can only send the token back.

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Or it can freeze every holder at once with a global freeze.

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A deep freeze goes further: a frozen holder can neither send nor receive.

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An issuer can also give freezing up for good by setting No Freeze.

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It can never be switched back off.

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Require Auth means you need the issuer's approval before you can hold the token at all.

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Clawback lets the issuer take tokens back out of your account.

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It can only be switched on before the issuer has any trust lines, so for that token it is permanent.

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And a transfer fee charges a percentage every time holders send the token to each other.

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The powers matter less than who can use them.

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An account can be signed for by its master key, by a regular key, or by a signer list.

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A signer list gives each person a weight and sets a quorum.

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With weights three, two, two, one and one, and a quorum of five, just two signers are enough.

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Count weights, not people.

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And if the master key is still enabled, one person holding it can bypass the signer list completely.

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NOSHASHI flags this as a master-key bypass.

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An issuer whose keys are all disabled or unusable is blackholed.

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Nobody can ever sign for it again, so its settings are frozen in time, for better and for worse.

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Here are three real certificates, read from validated mainnet on the twenty-fourth of September twenty twenty-six.

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Bitstamp and GateHub both score no go.

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In each case a single regular key can sign for the issuer, which fails a blocking check.

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That is not an accusation.

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Keeping freeze rights is normal, and often required, for a regulated issuer.

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The certificate simply states what the issuer can still do, so a holder decides knowingly.

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Sologenic has set No Freeze and is blackholed.

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It scores hold, not go, only because it charges a small transfer fee, which is a warning, and its supply concentration was not measured.

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The Authority screen runs six checks.

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Two are blocking: the token must not be globally frozen right now, and no single key may control the issuer.

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Fail either, and the verdict is no go.

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The other four are warnings: freeze not surrendered, permission needed to hold, a transfer fee, and concentrated supply.

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Any failed warning gives hold.

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You can run the same six checks on any issuer for free, without an account, on the certificate page at noshashi dot app.