It has really become increasingly important these days to ensure that audits are taking place. Especially as more and more eyes are turned towards the crypto space. I had never considered how crucial it was until just lately.
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Exactly just providing the data proves to people the legitimacy of the project. Would people put their money in a bank that’s not regulator probably not. I do think some of the regulations are bs with traditional financial institutions considering they got us into the financial crisis of 2008.
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Oh yeah, for sure. I know a lot of credit unions that are choosing to stop being federal credit unions because they don't want to be held to all the federal regulations. Especially in states like ours where pot is legal.