Net Savings Link Inc. (OTC:NSAV) Stock Gains After Regulatory Compliance Update
As the trading week comes to a close, it may be a good time for investors to consider taking a closer look at those companies that may come into focus this morning. Given the events of yesterday, the Net Savings Link Inc. (OTC:NSAV) stock could be on the radars of investors today. The cryptocurrency, blockchain, and digital asset technology firm announced a thorough update with regards to the regulatory and compliance initiatives for its NSAVx CEX exchange. The company noted that after the path-breaking cryptocurrency legislation moved further forward, Net Savings Link provided the details of its compliance for both state and federal registrations.
The company revealed that it was registered under an MSB Registration Number and was moving forward with more registrations for NSAVx.com in the form of a Wyoming corporation. Additionally, Net Savings Link also revealed that it submitted an application for a Money Transmitter License to the Colorado Department of Regulatory Agencies. The process of gaining the license would take 60 to 90 days, it was noted. Once the license is awarded, the company will be able to offer its money transmitter applications in other states, depending on the level of activity.
The company also stated that it had not only boosted compliance but also its own operational efficiency through the integration of artificial intelligence-powered AML (anti-money laundering) and KYC (know your customer) systems. The systems would be linked directly to the reporting system at FINCEN. Another important announcement from Net Savings Link in yesterday’s news release was that it was looking into the registration rules with the NFA (National Futures Association) and the CFTC (Commodity Futures Trading Commission). The company noted that registration with those bodies would be necessary in the long run. It remains to be seen if the Net Savings Link stock gets any action today or not.
