Through their CEO, Adam Aron, Theatre chain AMC has suggested that the company could issue its own cryptocurrency soon.
Adam let in on this huge news during an interview with CNBC after highlighting that the theatre chain is getting hyperactive with cryptocurrencies.
Adam continued to stress that there was a couple of reasons AMC would be a successful issuer of a custom-owned cryptocurrency token. As Adam let out, AMC is working on ‘half a dozen ideas’ at the moment, and divulging into the cryptocurrency business is just one of them. He, however, did not insinuate that all the projects would be cryptocurrency-related.
Is AMC in a Position to Navigate Crypto Regulations?
If AMC actualizes this dream and launches a crypto token, it will possibly attract attention just as their stock has done months over. This is because AMC has grown popular among retail investors over the years alongside major companies like GameStop. That said, a foreseen obstacle to this would be the difficulty to launch it in the United States due to the restrictive regulations present.
While the reputation of the theatre chain may proceed to help gain legitimacy of their token, obstacles ahead are almost certainly. If business giants like Facebook and Telegram encountered rougher patches in their suit to issue their crypto tokens, AMC might run to setbacks sooner rather than expected.
All is not Lost
Whereas it may be a challenge to roll out a custom crypto-token, the company will not have any issue accepting Bitcoin as a means of payment. This October, the company began accepting crypto as payment for gift cards, and by the end of the year, the theatre chain will take Bitcoin, Ethereum, Litecoin, Bitcoin Cash, and maybe Dogecoin for online payments.