distinct market advantages while also burdening regulators with an endless mountain of paperwork. People may believe it to be a lawful method but legal experts are expressing their doubts on these arrangements. It recently changed its stock market ticker to First Bitcoin Capital Corp, leading to a complete change of its business market. A number of companies specializing in selling, buying, managing or mining gold, with a combined market cap of billions, have recently announced their expansion into the Bitcoin arena through mining, selling, storing or accepting bitcoins for gold. This also sets a disturbing new precedent that no other technology or financial services industry has had to endure to date. In a press release today Netagios CEO, Simon Hamblin, explained: We have been encouraged by the early and increasing appetite from retail customers and institutional investors. . Specifically: While were sure that the protection from New York law enforcement is valuable, it comes at a price that exceeds the market opportunity of servicing New York residents. The Bitcoin ETF landscape, over the past months, the SEC has received a number of Bitcoin ETF applications, but so far the commission has yet to approve any of them.
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James Chandik, CEO and President of DNA Precious Metals Inc., again emphasised high interest from investors in press release comments: The management of DNA Precious Metals, Inc. It has been reported that a startup, Truebil which is a used car marketplace is capitalizing on this loophole. If any one of the applications gets approval it would become the first operating Bitcoin ETF in the world. Us being on the frontline of the BackPage effect is the leading cause of this, Youssef continued. According to its real-time filings system edgar, the SEC received new applications for REX Bitcoin Strategy ETF, and REX Short Bitcoin Strategy ETF. They proposed that we should become part of the bitcoin mining industry, and we saw the potential to deliver value for our shareholders as we continue to work towards bringing our mining operations on the Montauban Mine Property into production. Finally, showing the turning opinion of gold companies towards Bitcoin, a gold investor recently decided to ditch his gold mine completely in return for bitcoins.
We are confident that peer to peer marketplaces like Paxful will be the way the mainstream gets its bitcoin. On bitcoin and other cryptocurrencies being an illegal tender, Indian bitcoin companies have found a loophole. After remarks by Indian govt. Shapeshift, GoCoin, and, bitQuick. By capitalization on this loophole, businesses are accepting bitcoin among other cryptocurrencies, apparently without breaking the law. This new rush of gold companies into Bitcoin seems to validate these views. Legality is in question! Sadly, many other locales may copy BitLicenses framework out of convenience, without considering the costs of reproducing such restrictive codes of conduct.