Exactly what are the risks of trading cryptocurrencies now why I thought this is important to bring up this because sometimes you read in newspapers um people maybe May portray as if like oh crypto is like the riskiest thing in the world like you will lose all yourMoney or crypto is a scam some people say that right uh on the other hand maybe some of you have friends who who tell you oh you know I made like 100 000 Ringgit trading crypto within one month right so this is this is a very very interesting world where you have somePeople who say that it's like really really risky and on the other hand you have some people say oh I really made a lot of money trading so I thought it's important to let's just go through some of the risks of trading crypto the reason why regulation is soImportant but the reason why regulation exists is because it is to protect investors so basically when you um when you invest with a company like luno uh your Malaysian Ringgit is actually stored in what you call a trustee so luno is actually not in control of your Malaysian Ringgit because the funds isIn the name of the trustee so let's say even if uh whatever like digital currency group has problem luno has problems um the funds is still in the trustee's name right it's not like you know luno can take your funds and you know use to to pay a digital currency group also onUh on top of that the Securities Commission guidelines makes it mandatory for us companies like us to have a plan like let's say you know that's what we call a winding down the requirement is for all the customers to be able to withdraw their money so we we need toHave this kind of plans ready for The Regulators to uh what they call that to look through our plan and approve it and say that yes you know you guys are you you guys have a backup plan now if it happens so long story short don't beAfraid if anything ever happens to luno dcg or so on um you know you will be able to get back your funds love what is interesting happening this year so some of the the latest happenings in uh 2023 uh G20 pursues global standard for crypto regulation so today as itStands different different countries actually have their own crypto regulation so Malaysia has its own regulation Singapore has their own rules Thailand us UK and so on but I think as we continue seeing the industry mature as we see that people get more and more comfortable with using crypto you will see that regulationsWill start to become more and more standardized so you can see some of this uh large International bodies like the FSB the IMF and the bank of international settlements they are going to come up with some guidelines for cryptocurrency regulations that will probably be used globally okay now very interestingSecond point is that Hong Kong plans to open crypto markets to retail customers so before this actually China actually ban crypto investing and I think there was also a ban in Hong Kong so before this if you want to buy crypto when you're in Hong Kong you actually must beA sophisticated investor okay you cannot be an average investor you must have a certain amount of money and so on so it's very interesting to see that governments like Hong Kong and hopefully maybe China One day will actually be interested to allow people to start trading cryptocurrency again