Tag:Department of Commerce and Consumer Affairs

By: Jeremy McLaughlin and Joshua Durham

Hawaii has long been a thorn in the side of crypto companies. That thorn has finally been removed: on 25 January 2024, the Hawaii Department of Commerce and Consumer Affairs issued a press release summarizing its findings on the proper regulatory framework for cryptocurrency—its conclusion is that it will not apply the state’s money transmitter law to cryptocurrency activities. Hawaii initially worked with cryptocurrency companies to create an alternative licensing framework, but was ultimately unable to conceive of an adequate digital asset license.