All that are involved in Cryptocurrency need to be aware of further regulations and attacks from governments and traditional finance. With regulations looming it is important for serious projects to position themselves for protection from overarching regulatory bodies.
With that pretense, all should know that the Nexa team and community is taking seriously our plan to become the ultimate scalable and flexible Layer 1 for financial services.
In order to protect ourselves, our holders, as well as position ourselves for future exchanges, the Nexa Community has recently paid for a legal opinion (Howey Test) concluding that Nexa passes current EU and USA law for being a utility commodity, and not a security. 🏼🏻
The Legal opinion concluded $NEXA is not a security.
This step is an important step not only in listing on our new exchange next week, but for future tier 1 exchanges.