Hawaii to establish regulatory sandbox for digital currency issuers

Chain News, the Hawaiian government released a regulatory sandbox for digital currency companies on Tuesday, announcing the establishment of a two-year “digital currency innovation laboratory” that allows digital currency issuers to conduct business in Hawaii without the permission of state remitters . The statement stated that it hopes to learn more about digital currency and its activities in two years, and to develop guidelines to guide cryptocurrency legislation and determine the future of Hawaii’s digital currency. Companies can now apply for the Digital Currency Innovation Lab by May 1, 2020. Selected participants will have to demonstrate financial and technical expertise and have the necessary funding.

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