<transcript><audio_44>particularly for IC o---- so have you guys founded some in Australia for example do you need the appropriate for sill or how's that regulation work in each different jurisdictions it's it</transcript><transcript><audio_45>varies quite a bit based on you know every country's security laws essentially in the Cayman Islands where we're domiciled a token would have to confer equity rights to be considered a security regardless of what method it</transcript><transcript><audio_46>uses to you know pay out whether that be dividends or buying and burning etc so as you know in general tokens don't confer equity rights these tokens are all considered utility tokens in the</transcript> particularly for IC o---- so have you guys founded some in Australia for example do you need the appropriate for sill or how's that regulation work in each different jurisdictions it's it varies quite a bit based on you know every country's security laws essentially in the Cayman Islands where we're domiciled a token would have to confer equity rights to be considered a security regardless of what method it uses to you know pay out whether that be dividends or buying and burning etc so as you know in general tokens don't confer equity rights these tokens are all considered utility tokens in the
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