In general, we are seeing more and more regulation in the space. Whether a jurisdiction is welcoming depends on many factors, whether we are talking about a token lunch, where the project fits within the blockchain ecosystem, if and how it is permissioned or fully decentralized, etc. ? Depending on the needs of the project, the regulatory landscape it has to navigate changes a lot. If it’s a privacy project, or there’s no privacy element in it, then again, it changes a lot.