Hawaii Rolls Out Cryptocurrency Sandbox to Lure Blockchain Focused Firms

Hawaii governor’s office has disclosed its latest ‘Digital Currency Innovation Lab’, a crypto and blockchain incubator built via partnership between Division of Financial Institution (DFI), the state’s Department of Commerce and Consumer Affairs, and the Hawaii Technology Development Corporation (HTDC).

The program will run for two years and will permit “digital currency issuers to do business in Hawaii without obtaining a state money transmitter license during the effective period of the pilot program.”

Under the program, Hawaii intends to “achieve a more in-depth perspective of digital currency” and reveal future crypto guidelines in the state.

Iris Ikeda, Hawaii’s commissioner of financial institutions, has stressed that the DFI has published a no-action directive to avoid regulatory action against enterprises…