Thank you for the question.
I think many joining us today would talk about us having a fragmented securities regulatory environment. I think it's important to understand that retail investors—and I'm going to talk about them specifically for a moment—don't think of things as commodities or securities. They don't bucket the world that way. We might in this room, and lawyers may, and accountants may, but retail investors are seeking an access point to purchase an asset or participate in an activity that they think may be very important and perhaps bring a financial gain. They don't think about what platforms are regulated. Perhaps there will be more of a light shone on that now, in a post-FTX world.
Generally, what this means is that if a local platform is not able to compete with one in a foreign jurisdiction that has less oversight and can offer more products and services that are keeping up with industry trends, that retail investor will seek out the foreign platform regardless of whether there's a local registration or not.
Something that I'm very passionate about would be to figure out a way to allow the local businesses that are trying to be compliant, that want to be registered and that are trying to keep up with the industry to offer those same products and services. If we can build a framework that allows them to keep pace, I think we won't have retail-investor assets moving into foreign jurisdictions.
That, I think, is the biggest help that we need from government. It's to have a national framework, a national strategy on how we see this technology playing out at a retail-asset exposure level, and also how, as a technology, it's going to touch society.
I'd ask Mr. Thomas if he has anything else he'd like to add to that.