- U.S.
Securities and Exchange Commission continues to review cryptocurrency ETF
applications
- Application
by Chicago Board Options Exchange generating buzz among investors
- VRCP’s
ATM platform helping to strengthen bitcoin’s legitimacy through
“spendability” and technological practicality
As the U.S. Securities and Exchange Commission weighs
several applications seeking to establish an exchange-traded investment fund
(ETF) for the bitcoin cryptocurrency, Virtual Crypto Technologies Inc. (OTCQB:
VRCP) is applauding the signs that regulatory sentiment in the United States
appears to be shifting in favor of cryptocurrencies, paving the way for
anticipated mass adoption of bitcoin (Crypto: BTC) and other cryptocurrencies.
Virtual Crypto Technologies is a company dedicated to making
the financial flexibility of cryptocurrencies more accessible to the public
through software- and hardware-based payment solutions that elevate the
purchase and sale of cryptocurrencies through ATMs, tablets, PCs and/or mobile
devices.
As such, Virtual Crypto considers its experience in enabling
the rapid exchange of cryptocurrency and traditional fiat currency to be an
advantage in positioning the company to capitalize on the ETF debate as
expectations rise that the SEC will approve a bitcoin ETF this year, perhaps as
early as August.
“The fact that a regulatory body as important as the SEC is
seriously considering a Bitcoin ETF, as well as notable development in the cryptocurrency
ecosystem such as MasterCard’s intention to allow blockchain currencies to be
transacted on traditional payment channels, validates our vision that
cryptocurrencies are here to stay and that an era of virtual coins as a payment
method for the masses is just around the corner,” Virtual Crypto CEO Alon Dayan
stated in a recent news release (http://ibn.fm/Wi9Rl).
Researchers at Imperial College London reported that digital
currencies are overcoming doubts about their trustworthiness and
usefulness (http://ibn.fm/lzOai),
fueling predictions that bitcoin and other cryptocurrencies will become
mainstream forms of payment for goods and services within the next decade.
In late July, the SEC issued its latest denial of a bitcoin
ETF, finding that the proposed product wasn’t safe enough for investors (http://ibn.fm/ygruE). However,
the agency continues to review numerous other bitcoin ETF proposals, such as a
fund advanced by the Chicago Board Options Exchange (CBOE) (http://ibn.fm/dlXmh) that has
gained significant interest among investors (http://ibn.fm/wlklS). Industry publication Bitcoinist
reported on August 2 that one of the four currently active SEC commissioners is
continuing to promote cryptocurrency ETFs as an Exchange Act-consistent device
for increasing investor opportunities and sustaining important innovation in
the nation’s capital markets (http://ibn.fm/0CcO1).
A recent audio press release highlighting Virtual Crypto
Technologies’ position notes that the acid test for determining the legitimacy
of blockchain-based currencies such as bitcoin is increasingly being defined by
their “spendability” and technological practicality (http://ibn.fm/PNOx9).
Virtual Crypto’s technology has helped establish that
legitimacy for bitcoin through its bi-directional NetoBit ATM platform, which
enables consumers to withdraw cash from their bitcoin accounts and transfer
funds to the accounts without the need for banking institution hurdles and
their fees. While a variety of altcoin ATMs are proliferating across North
America, with more than 73 percent of them located on the continent (http://ibn.fm/WJNo7), the vast
majority of those ATMS only provide “one-way” purchasing of crypto funds.
The uniqueness of the platform is visible in its currency
exchange transaction validation (CETV) protocols that speed up the completion
of cash or fintech transfers through proprietary transaction confirmation that
establishes the probability of a transaction being confirmed, even while the
verification by multiple miners is taking place. It is currently accessible to
the consumer through Android and iOS mobile apps (http://ibn.fm/wGsGI). The
products, working together, allow Virtual Crypto to take economic freedom to
the next level.
For more information, visit the company’s website at www.Virtual-Crypto.com
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