The Hawaii State Department of Commerce and Consumer Affairs and the Hawaii Technology Development Corporation (HTDC) issued an announcement Friday 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 transfer license issued by the state of Hawaii to conduct business in the state. However, they must comply with federal regulations.
DCIL is a two-year pilot program in Hawaii established by HTDC in partnership with the Hawaii Department of Financial Institutions Group (DFI). It allows participating cryptocurrency issuers to conduct business in Hawaii without a state money transfer license.
Hawaii completes regulatory sandbox, cryptocurrency firms no longer need state currency transfer licenses
2024-07-01 01:27:10
Hawaii Department of Commerce Consumer Affairs Hawaii Technology Development Corporation HTDCdesk3cryptocurrencydesktopCrypto News
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