I would strongly encourage government and regulator engagement with our industry. I know that our industry is very eager to engage with our government for that one.
The reason companies or individuals will go towards the centralized exchanges is based on not being able to access the basic business needs that this industry requires. Banking is difficult for these businesses, and if you can't get access to something as simple as banking to be able to operate a compliant business, you're more likely to go offshore.
With companies that feel it's too difficult to navigate the regulatory environment, we've also seen that they'll go to offshore places like the Bahamas, like FTX did, to what I guess are more lax—for lack of a better word—regulatory jurisdictions, where they can operate decentralized exchanges and consumers aren't protected.
In Canada, with our members, we would like to see government get engaged. We would like to see government advocate for better access to banking and for very clear regulatory processes to allow for these companies to make sure they are registered with IIROC and FINTRAC and can serve Canadians in a safe and compliant manner.