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Hawaii Exempts Crypto Firms From Money Transmitter License
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On June 28, Hawaii decided to drop its money transmitter (MT) license requirement for cryptocurrency firms, although these firms will still need to comply with federal regulations.
Effective July 1, digital currency activities are no longer regulated under Chapter 489D of the Hawaii Revised Statutes (HRS) — Money Transmitters Modernization Act — or any other statutes governed by the Hawaii Division of Financial Institutions (DFI).
The Department of Commerce and Consumer Affairs (DCCA) and the Hawaii Technology Development Corporation (HTDC) jointly announced this landmark decision.
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