Hawaii wants to attract crypto-startups

As part of the " Digital Currency Innovation Lab ", The US state ofHawaii relaxes her regulation for companies specializing in cryptocurrency.

According to a statement from the Hawaii Department of Commerce & Consumer Affairs, the Hawaiian government launched its " first pilot program for digital currency "

The initiative is expected to help the Central Pacific volcanic archipelago again attract crypto-startups, which, for the most part, fled to more lenient jurisdictions following the implementation in 2017 of the “double reserve requirement”, requiring companies operating with digital assets to hold a reserve of the same currency value -fiat (dollar).

Specialized companies will now be able to benefit from a " stay »Of 2 years before having to comply with regulatory requirements, and in particular to the double reserve.

With the Digital Currency Innovation Lab, Hawaii can position itself at the forefront of financial technology and potentially reap the economic benefits that accompany the leadership position adopted, ”said Len Higashi, Acting Executive Director of Hawaii Technology Development Corporation.

The document specifies that the actors will be "carefully examined" before being authorized to ensure consumer protection.