NSAV Holding Inc (NSAV)

[nnvcfan]

NSAV, also known as Net Savings Link, Inc., is actively working on regulatory compliance and has provided a detailed update on their initiatives. As of May 23, 2024, NSAV is registered under the MSB Registration Number 31000262776231 and is proceeding with additional registrations for its NSAVx.com exchange as a Wyoming corporation. They have submitted an application for a Money Transmitter License to the Colorado Department of Regulatory Agencies (DORA), and this process is expected to take 60-90 days.

Furthermore, NSAV has integrated AI-managed Know Your Customer (KYC) and Anti-Money Laundering (AML) systems that link directly with the FINCEN reporting system, enhancing compliance and operational transparency. They are also exploring registration requirements with the Commodity Futures Trading Commission (CFTC) and National Futures Association (NFA) and have initiated the registration process with the NFA.

Globally, NSAV expects imminent approvals for their digital asset licenses in Singapore, Poland, and the Czech Republic, with applications under review in Ireland, Dubai, and Lithuania. In Dubai, they have been sponsored by an existing exchange, which aids the expedited licensing process.

So, NSAV is not operating without a license but is in the process of obtaining and has already secured various licenses and registrations to ensure compliance with regulatory requirements.