Chicago, IL, January 25, 2026, Chainwire
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 one of the first companies to allow consumers to acquire Bitcoin with cash. Over nearly a decade of continuous operation, the company has faced rapid technological change, fragmented state requirements, and an often restrictive banking environment for digital asset businesses.
In 2019, less than three years after its launch, Crypto Dispensers made a deliberate strategic decision to reduce its reliance on standalone hardware and invest in software infrastructure integrated with regulated financial and retail systems. The move reflects a clear assessment that software-based delivery scales more efficiently, reduces operating costs, removes the investment and maintenance burden of physical machines, and expands access to cash-dependent users. Integrating cash access into familiar retail environments also improves transparency, consistency and affordability while allowing the platform to scale 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 operational complexity and slowed short-term growth, but they allowed the company to build an infrastructure capable of supporting long-term scale.
This approach led to the development of Bitcoin POP, a cashier-verified Bitcoin money transfer platform integrated into national retail environments. The platform allows users to fund accounts with cash in familiar, staffed locations and quickly access Bitcoin through the Crypto Dispensers app, while operating within defined limits and monitoring payment flows.
Compliance, security and governance
Crypto Dispensers operates as a registered money services business and maintains a comprehensive compliance program that has been continually expanded over time. The company’s controls include anti-money laundering procedures, risk-based identity verification, transaction monitoring, sanctions monitoring, escalation protocols, independent testing and internal audits. These systems have been built, reviewed and refined through years of operational experience in multiple jurisdictions.
To formalize enterprise-grade security and internal controls, Virtual Assets, Inc. performed a SOC 2 Type II audit covering security, availability, and privacy. The audit process was supported by Prescient Security, an independent cybersecurity company that performed penetration testing, security assessments and validation of technical controls; Eden Data, a compliance consulting firm that guided the design, documentation and alignment of controls with trust services criteria; and Drata, a compliance automation platform used to maintain continuous control monitoring and audit readiness.
Together, these efforts have established documented governance structures, access controls, incident response procedures and continuous monitoring systems that support secure and reliable operations.
Legal and regulatory context
The federal and regulatory proceedings currently relate to historical operations conducted under the Company’s previous legal entity, Virtual Assets LLC. Crypto Dispensers has been operating under Virtual Assets, Inc. for over a year after converting to a C corporation, a move 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 company. The government’s charges relate to this prior entity and historical activities that predate the company’s current corporate structure and operating framework.
Virtual Assets LLC has officially responded to the allegations and disputes the government’s findings. The Company believes these assertions stem from misunderstandings about how Cash-to-Bitcoin infrastructure works in practice, particularly during a period marked by regulatory uncertainty, shifting policy priorities, and inconsistent treatment of digital asset activities across jurisdictions.
During this period, Crypto Dispensers has operated openly, maintained its federal registration, and continued to strengthen its compliance systems in response to audits, feedback from supervisory authorities, and evolving expectations. These efforts have occurred alongside a broader industry-wide banking push, commonly referred to as Operation Choke Point 2.0, which has limited access to financial services for many compliant crypto businesses.
The Company is represented in federal matters by Katten Law Firm, a nationally recognized firm that advises banks, fintech companies and payment institutions on complex financial services regulatory and enforcement matters. For state-level regulatory and licensing matters, the company retained law firm Cogent, which advises digital assets and payments companies on regulatory compliance in multiple states.
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 during this process.
“Building a sustainable Bitcoin infrastructure requires discipline, clarity and a long-term vision,” said Firas Isa, founder and CEO. “From the beginning, we have focused on our operations within the financial system, on securing banking relationships, on audits, and on continually strengthening our controls as expectations evolved. This work has shaped how we design our platform and how we evolve it. Our goal has always been to provide fast, accessible Bitcoin access that works reliably in real-world environments and stands up to scrutiny over time.”
Strategic direction
Virtual Assets, Inc. continues to expand its operations while evaluating strategic outcomes consistent with its market position. These include institutional and venture capital investments, strategic partnerships and potential transactions with established financial or technology platforms seeking regulated money transfer infrastructure to Bitcoin.
The Company operates in coordination with publicly traded, financially regulated banking partners and national retail chains that provide staffed, well-lit environments for cash financing. These relationships support integrated oversight, consumer safeguards and operational transparency.
Crypto Dispensers remains fully operational and focused on execution. The company believes that the future of Bitcoin access will be shaped by infrastructure that provides speed, accessibility and reliability, while operating within legal frameworks that protect consumers and the integrity of the financial system.
About Crypto ATMs and Virtual Assets, Inc.
Crypto Dispensers is the consumer-facing brand of Virtual Assets, Inc., a Chicago-based financial technology company focused on regulated money transfer infrastructure to Bitcoin. Founded in the early days of Bitcoin access in the United States, the company has evolved alongside the industry, developing software platforms that allow consumers to purchase Bitcoin via cashier-verified cash deposits at major retail locations nationwide. Virtual Assets, Inc. focuses on compliance, consumer protection, business security, and sustainable financial infrastructure.
For more information, users can visit www.cryptodispensers.com
Contact
Lola Vance
Virtual Assets, Inc.
press@cryptodispensers.com
