NetworkNewsWire Editorial Coverage: While there remains some uncertainty about how forthcoming cryptocurrency and virtual currency regulations will shake out, “cryptocurrency is here to stay,” said Jason Huang, CEO of graphics card giant NVIDIA during a recent CNBC Mad Money interview (http://nnw.fm/7MAsT). Factors sustaining this looming permanency include the need more than 2 billion people worldwide who are unbanked have for financial services — 15.6 million of those individuals in the United States, according to MoneyGram. ATMs offering cryptocurrencies such as bitcoin (Crypto: BTC) are rapidly emerging as an alternative banking paradigm, but only around half of the bitcoin ATMs support altcoins such as litecoin (Crypto: LTC) or ethereum (Crypto: ETH) (http://nnw.fm/Z7l9S). There is substantial opportunity here for developers such as Virtual Crypto Technologies Inc. (VRCP) (VRCP Profile), with its cryptocurrency transaction validation and ATM/POS (point of sale) offerings. Naturally, opportunity also encompasses risk for payment-processing tech developers such as PayPal Holdings, Inc. (PYPL), Square, Inc. (SQ)and Green Dot Corp. (GDOT), or blockchain developers such as financial services industry heavy-hitter Broadridge Financial Solutions, Inc. (BR).
Regulatory Outlook Apparently Bullish to Many
Many players regard crypto-friendly and mutually beneficial regulation to be the best bet for promoting the industry’s ability to flourish and ensuring that bad actors cannot exploit crypto for illicit activities such as money laundering, evading sanctions or financing terrorism. The recent Commodity Futures Trading Commission (CFTC) advisory statement on listing virtual currency derivative products noted that close outreach to market participants and coordination with regulators was key to striking…
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