Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesCopyBotsEarn
Hawaii Completes Regulatory Sandbox Pilot Program, Crypto Firms No Longer Require State Money Transmitter License

Hawaii Completes Regulatory Sandbox Pilot Program, Crypto Firms No Longer Require State Money Transmitter License

Odaily2024/07/01 01:45
By:Odaily
Odaily News The Hawaii State Department of Commerce and Consumer Affairs and the Hawaii Technology Development Corporation (HTDC) recently issued an announcement to remind the public that its regulatory sandbox, the Digital Currency Innovation Lab (DCIL), has ended on June 30. Cryptocurrency companies will no longer need a money transmitter license issued by the state of Hawaii to do business in the state. However, they must comply with federal regulations. DCIL is a two-year pilot project in the state of Hawaii established by HTDC in partnership with the Hawaii Department of Financial Institutions (DFI). It allows participating digital currency issuers to do business in Hawaii without a state money transmitter license. The announcement stated: This collaborative research project was launched in 2020 to explore digital currency activities in the state and evaluate the regulatory framework required for companies specializing in digital currencies, also known as cryptocurrencies. The results of the project indicate that digital currency companies will no longer need a money transmitter license issued by Hawaii to do business in the state. ( Bitcoin.com)
0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

Ethereum Sees $48M Purchase From Trump-Endorsed Crypto Initiative: Future Predictions

World Liberty's Significant Ethereum Purchase: Increasing Treasury Holdings and Attracting Institutional Support

Coineagle2025/01/22 09:55

Will Q1 Trends Propel Ethereum Towards the $3500 Milestone?

Whale Accumulation, Q1 Market Trends, and Ethereum Foundation Shifts: Key Drivers for Ethereum's Potential Surge to $3500

Coineagle2025/01/22 09:55

SEC Appoints Hester Peirce to Cryptocurrency Task Force: The Bullish Development Everyone Expected Could Be Coming Soon

The SEC has appointed cryptocurrency advocate Hester Peirce to head its newly formed cryptocurrency task force. So what happens now?

Bitcoinsistemi2025/01/22 09:44

Investment Giant BlackRock Continues Its Leadership in Both Bitcoin and Ethereum ETFs! Here Are the Details

Both Bitcoin and Ethereum continue to attract institutional capital, with spot exchange-traded funds reporting significant net inflows.

Bitcoinsistemi2025/01/22 09:44