Not too long ago, the cryptocurrency, blockchain and digital asset technology company Net Savings Link (OTCMKTS:NSAV) had seen its stock make enormous gains. However, the situation changed quite dramatically last week after the company launched its own cryptocurrency exchange.
It is important to note in this regard that the launch of the new exchange had been one of the major reasons behind the rally in the stock in the first place. On Friday, the stock declined by as much as 28% and that took its decline to 75% for the week. It was a major correction and it is important for investors to figure out if it could be an opportunity to get into the stock or not.
The crypto exchange which had been launched on August 9 was fully functional at the time of its launch. At the same time, the company also noted that it was going to further strengthen its KYC or Know Your Customer protocols in order to be compliant with regulatory compulsions. It should be noted that other cryptocurrency exchanges like Binance and Coinbase had earlier run into troubles with the regulatory authorities due to the same issues. The company is also working on the launch of a governance token.