Cephas Holding Corp, also known as Bitcoin Brands, says that it plans on launching Bitcoin ATMs in New Hampshire, one of the more bitcoin-friendly states.
The company cleared a regulatory hurdle when the state’s Banking Department ruled that it does not require a Money Transmitter license for the ATMs. The license is only required if issuing payments or stored value, or if monetary value is transferred from one location to another. In selling bitcoins to buyers at the kiosk, its activities do not fall into any of these categories.
The company currently operates ATMs in Michigan and Montreal. It plans on adding more in other locations including Las Vegas and Manchester.
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Bitcoin Brands says that it is publicly traded in the United States under the symbol CEHC. It is a penny stock traded on the OTC markets, currently worth $0.0017 per share. The publicly traded entity is in fact called Cephas Holding Corp, but emphasizes on its website that “we will soon change our name to Bitcoin Brands Inc.”
The only other publicly traded Bitcoin companies in the United States are Bitcoin Shop, also traded on the OTC markets under the symbol BTCS, and more recently, Alternet Systems with their facilitation of Bitcoin payments.
According to its website, “Cephas Holding Corp is committed to developing and building businesses in the Bitcoin economy. We are focused on the promotion and marketing of bitcoin to the public through automated kiosks, enabling professionals to accept bitcoin in their businesses, and taking ownership in emerging bitcoin businesses.”
Specifically, it says to operate “The Bitcoin Vending Network” and offers a payment solution for medical businesses called BitMD. In looking to partner with Bitcoin entrepreneurs, they “seek to invest as little as $1,000 and up to $25,000 in financing rounds of other digital currency enterprises.”