Write a brief letter to the board that outlines whether or not the company must register with the Financial Intelligence Centre as an accountable institution. In order to craft this letter, you will need to consult the FIC Act using each of the five dimensions of the purposive approach: language, context and structure, teleology, history, and comparison. Before writing the letter, consider the following questions to guide your interpretation:

$$ What is the purpose and intention of the FIC Act $($i$.$e$.$ what social misbehaviour does the Act aim to regulate?$)$ You may want to conduct independent research to fully explore this question.

$$ How does the FIC Act define an accountable institution?

$$ Does CryptoFin match the definition of an accountable institution as outlined by the FIC Act?

$$ By drawing on other sections and elements of the Act, are there sections that are relevant to CryptoFin and the service offered by the app? Focus particularly on what accountable institutions are required to do in terms of the Act.