ChainCatcher reported that according to Bitcoin.com, the Hawaii Department of Commerce and Consumer Affairs and the Hawaii Technology Development Corporation (HTDC) announced on Friday that the state's regulatory sandbox, the Digital Currency Innovation Lab (DCIL), ended on June 30. DCIL is a two-year pilot program that allows participating digital currency companies to operate in Hawaii without a state money transmission license. The end of the project means that these companies will no longer need this license to do business in Hawaii, but will still need to comply with federal licensing, registration requirements, consumer protection and anti-money laundering regulations.
It is reported that a total of 11 companies participated in the sandbox program, including Apex Crypto, Bitflyer USA, etc. They will transition between July 1 and December 30. It is worth noting that Blockfi, which had filed for bankruptcy protection, is also among them.
Prior to this, crypto companies in Hawaii had to obtain a money transmission license to operate. The end of the sandbox program marks a new adjustment in Hawaii's regulatory policy for digital currency companies.
