While being exempt from the Money Transmitter License requirement, crypto firms in Hawaii will still have to comply with any federal licensing laws.
Initiated in 2020, DCIL aimed to explore the landscape of digital currency activity within the state as well as assess the regulatory framework required for crypto-related companies. “The companies will be able to continue transaction activity as an unregulated business,” DCCA said in the statement, adding that crypto companies will still be responsible for complying with any applicable federal licensing or registration requirements.
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