With Netcoins being fully regulated, it means there’s more oversight on our business, the operations and the overall infrastructure. From where we source new coins, where we store assets, what we charge in fees and a whole lot more.
It also means that the government can show up at any given time to check in on the business and to confirm that we are operating in the way we have disclosed.
Therefore, regulation makes an impact in the day-to-day operations of our business, but these are all things that we've agreed to in the name of consumer protection. This should give our customers more confidence in the Netcoins platform and in us as a business.
This is similar to the regulation of cannabis dispensaries we saw a few years back here in Vancouver. For a while, the cannabis dispensaries were unregulated but then they needed to become registered and regulated.