nFusz To Await Regulatory Guidance Before Proce

nFusz To Await Regulatory Guidance Before Proceeding With Blockchain-Based Digital Advertising Plans


May 04, 2018 21:52 ET | Source: nFusz, Inc.
HOLLYWOOD, Calif., May 04, 2018 (GLOBE NEWSWIRE) -- nFusz, Inc. (OTCQB:FUSZ), the Hollywood-based digital technology company, announces that it will not pursue its blockchain-based digital advertising strategy until the U. S. Securities and Exchange Commission and other regulatory agencies provide bright-line rules and regulations around the use of crypto and token currencies utilized in blockchain implementations.

In January of this year, nFusz CEO, Rory J. Cutaia, announced plans to investigate the viability of utilizing blockchain technology and crypto-currency to compensate viewers of nFusz’ clients’ interactive video ads, and then allow the viewers to utilize that currency toward the purchase of the products and services featured in the interactive video ads.

“Earlier this year I announced plans to investigate the implementation of a blockchain-based strategy to create an entirely new ecosystem for the distribution of advertising revenue utilizing some of the latest innovations in blockchain technology and crypto-currency,” states Mr. Cutaia. “I stated that I would report back at the end of Q-1 2018 to confirm our intentions. After a thorough investigation of the current regulatory landscape, it is my conclusion that listed companies need to wait until the SEC completes their ongoing review of this new area and provides a clear set of rules upon which we can rely,” continues Mr. Cutaia. “Our company is keenly focused on value creation for our shareholders, and we are fortunate enough to be engaged in a number of value creation initiatives that are quantifiable within the current, defined regulatory environment, and that’s where we intend to remain,” continues Mr. Cutaia.