The last question of today's AMA is about the European license.

Recently, many friends have been discussing European licenses, so I expressed my personal views truthfully in the AMA.

First of all, a license is like a "good person card." A good person card is like a security door that prevents gentlemen but not villains; it does not mean that having a license guarantees being "good," and not having one guarantees being "bad."

The key point is whether users are the core consideration for an exchange. Some exchanges may not have obtained a license yet but still have an excellent reputation among users, while some exchanges, despite having a license, operate in a chaotic manner.

Therefore, there is no timing for applying for a license. Applying early may indicate better qualifications, but applying late does not necessarily mean it will harm users. If the users are valued, even without a license, it is still worthy of trust.

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