Crypto Dispensers, operating under Virtual Assets, Inc., today detailed the evolution of its cash-to-Bitcoin platform, its long-standing compliance posture, and the institutional controls supporting its operations across the United States.

Founded during the early years of Bitcoin adoption, Crypto Dispensers was among the first companies to enable consumers to acquire Bitcoin using cash. Over nearly a decade of continuous operation, the company has navigated rapid technological change, fragmented state-by-state requirements, and an often restrictive banking environment for digital asset businesses.

By 2019, less than three years after launching, Crypto Dispensers made a deliberate strategic decision to reduce reliance on standalone hardware and invest in software-led infrastructure integrated into regulated financial and retail systems. The decision reflected a clear assessment that software-based delivery scales more efficiently, lowers operating costs, removes the capital and maintenance burden of physical machines, and expands access for cash-dependent users. Embedding cash access within familiar retail environments also improves transparency, consistency, and affordability while allowing the platform to grow without the constraints imposed by hardware deployment.

The company invested early in compliance, governance, audits, and regulated counterparties as part of this transition. These investments increased operating complexity and slowed short-term growth, but they enabled the company to build infrastructure capable of sustaining long-term scale.

This approach led to the development of Bitcoin POP, a cashier-verified cash-to-Bitcoin platform embedded within national retail environments. The platform enables users to fund accounts with cash in staffed, familiar locations and access Bitcoin quickly through the Crypto Dispensers application, while operating within defined limits and monitored payment flows.

Compliance, Security, and Governance

Crypto Dispensers operates as a registered money services business and maintains a comprehensive compliance program that has been continuously expanded over time. The company’s controls include anti-money laundering procedures, risk-based identity verification, transaction monitoring, sanctions screening, escalation protocols, independent testing, and internal audits. These systems have been built, reviewed, and refined through years of operating experience across multiple jurisdictions.

To formalize enterprise-grade security and internal controls, Virtual Assets, Inc. completed a SOC 2 Type II audit covering security, availability, and confidentiality. The audit process was supported by Prescient Security, an independent cybersecurity firm that conducted penetration testing, security assessments, and validation of technical controls; Eden Data, a compliance advisory firm that guided control design, documentation, and alignment with the Trust Services Criteria; and Drata, a compliance automation platform used to maintain continuous control monitoring and audit readiness.

Together, these efforts established documented governance structures, access controls, incident response procedures, and continuous monitoring systems that support secure and reliable operations.

Legal and Regulatory Context

Federal and regulatory proceedings currently relate to historical operations conducted under the company’s prior legal entity, Virtual Assets LLC. Crypto Dispensers has operated under Virtual Assets, Inc. for more than a year following its conversion to a C-corporation, a step taken to support institutional governance and enable venture capital and other forms of outside investment.

Virtual Assets LLC is no longer the operating entity of the business. The charges brought by the government relate to that prior entity and to historical activity predating the company’s current corporate structure and operating framework.

Virtual Assets LLC has formally responded to the allegations and disputes the government’s conclusions. The company believes the claims stem from misunderstandings of how cash-to-Bitcoin infrastructure operates in practice, particularly during a period marked by regulatory uncertainty, shifting policy priorities, and inconsistent treatment of digital asset businesses across jurisdictions.

During that period, Crypto Dispensers operated openly, maintained its federal registration, and continued to strengthen its compliance systems in response to audits, supervisory feedback, and evolving expectations. These efforts occurred alongside broader industry-wide banking pressure commonly referred to as Operation Choke Point 2.0, which constrained access to financial services for many compliant crypto businesses.

The company is represented in federal matters by Katten Law Firm, a nationally recognized firm advising banks, fintech companies, and payment institutions on complex financial services regulation and enforcement matters. For state-level regulatory and licensing matters, the company has engaged Cogent Law Firm, which advises digital asset and payments companies on multi-state regulatory compliance.

Virtual Assets LLC has cooperated extensively with authorities while continuing to defend itself through the appropriate legal process. Crypto Dispensers remains confident that the factual record, including its sustained compliance investments and operating history, will be fully evaluated through that process.

“Building durable Bitcoin infrastructure requires discipline, clarity, and a long-term view,” said Firas Isa, Founder and Chief Executive Officer. “From the outset, we focused on operating within the financial system, securing banking relationships, undergoing audits, and continuously strengthening our controls as expectations evolved. That work shaped how we design our platform and how we scale it. Our objective has always been to deliver fast, accessible Bitcoin access that functions reliably in real-world environments and stands up to scrutiny over time.”

Strategic Direction

Virtual Assets, Inc. continues to scale operations while evaluating strategic outcomes consistent with its market position. These include institutional and venture investment, strategic partnerships, and potential transactions with established financial or technology platforms seeking regulated cash-to-Bitcoin infrastructure.

The company operates in coordination with publicly traded, financially regulated banking partners and national retail chains that provide staffed, well-lit environments for cash funding. These relationships support built-in oversight, consumer safeguards, and operational transparency.

Crypto Dispensers remains fully operational and focused on execution. The company believes the future of cash-to-Bitcoin access will be shaped by infrastructure that delivers speed, accessibility, and reliability while operating within lawful frameworks that protect consumers and the integrity of the financial system.

About Crypto Dispensers and Virtual Assets, Inc.

Crypto Dispensers is the consumer-facing brand of Virtual Assets, Inc., a Chicago-based financial technology company focused on regulated cash-to-Bitcoin infrastructure. Founded during the early era of Bitcoin access in the United States, the company has evolved alongside the industry, developing software-led platforms that enable consumers to purchase Bitcoin through cashier-verified cash deposits at major retail locations nationwide. Virtual Assets, Inc. emphasizes compliance, consumer protection, enterprise security, and durable financial infrastructure.

For more information, visit www.cryptodispensers.com