Cryptocurrency Achieves Breakthrough Acceptance as US Senate Negotiators Deem it as Infrastructure

FN Media Group Presents USA News Group News Commentary

VANCOUVER, B.C., Aug. 11, 2021 /PRNewswire/ -- USA News Group  -  A last-minute tax provision was tacked on to the $1.2 trillion bipartisan infrastructure bill last week, after US Senate negotiators made abreakthrough over regulations for online digital transactions involving cryptocurrencies. The provision signalled yet another move towards mainstream acceptance of crypto for transactions, as a recent Gallup poll communicated that 6% of adults with $10,000 or more invested in stocks, bonds or mutual funds own Bitcoin. The groundswell of crypto acceptance from regulators and the market isn't just restricted to the United States, as markets around the world are opening up to digital transactions, leading to a rise in interest for companies in the digital currency space, including Mobilum Technologies Inc. (CSE:MBLM) (OTC:MBLMF), HIVE Blockchain Technologies Ltd. (NASDAQ: HVBT) (TSXV: HIVE), Riot Blockchain, Inc. (NASDAQ: RIOT), Marathon Digital Holdings, Inc. (NASDAQ: MARA), and SOS Limited (NYSE: SOS).

With offices in Canada, Hong Kong, Poland and Estonia, Mobilum Technologies Inc. (CSE: MBLM) (OTC: MBLMF) is working towards making traditional finance accessible through compliant digital payment infrastructure and digital asset management technologies.

Through its wholly-owned subsidiary, Mobilum was recently awarded a Payment Institution License in Poland, and announced it had generated a record Total Transaction Volume (TTV) of approximately C$5.3 million in July 2021—which represented a 30% month-over-month growth from the previous month.

"We are very pleased to see significant strength in our total transaction volume month over month as we continue to execute on our growth strategy," said Mobilum OÜ CEO, Wojciech Kaszycki.

Mobilum OÜ, the Poland-based subsidiary, can now accept cash deposits, make cash withdrawals from a payment account, execute payment transactions, issue payment instruments like debit and credit cards, and engage in money remittance and transfer services.

"We are pleased to complete our first step to becoming an Electronic Money Institution by registering as a Payment Institution License in Poland," said Kaszycki. "With this first phase of the process completed, the next step is to become a National Payment Institution which will allow Mobilum to engage in worldwide activities."