Cryptocurrency
Hawaii is establishing a regulatory sandbox for digital currency issuers
As reported on The Block, “The government of Hawaii unveiled a regulatory sandbox for digital currency firms on Tuesday. “The state announced the establishment of its ‘Digital Currency Innovation Lab’ a two-year initiative that allows digital currency issuers to do business in Hawaii without a state money transmitter license. The governor’s statement said it hopes […]
As reported on The Block, “The government of Hawaii unveiled a regulatory sandbox for digital currency firms on Tuesday.
“The state announced the establishment of its ‘Digital Currency Innovation Lab’ a two-year initiative that allows digital currency issuers to do business in Hawaii without a state money transmitter license. The governor’s statement said it hopes to gain more perspective on digital currency and its activities through the two-year period, with an eye towards crafting legislation.
“‘The insights attained will be used to guide legislation and determine the future of digital currency in Hawaii,’ said the statement.
“Companies are now able to apply for the Digital Currency Innovation Lab through May 1, 2020. However, selected participants will have to demonstrate financial and technical expertise, as well as hold the necessary capital, according to the statement…”