Crypto Sandbox en Hawái lanza la Ronda 2 de la convocatoria de solicitudes
Hawaii Innovation Lab launches second round of applications for DCIL crypto sandbox. Approved projects will be able to operate in the cryptosphere without licensing
The acceptance of applications is open by the state on Monday and will last until February 26. This means that more cryptocurrency funds, exchanges and companies will be able to build businesses in the cryptosphere.
This is big news for Hawaii, where the use of cryptocurrency technology has historically been limited. According to local laws, any cryptos company with a cryptocurrency reserve had to keep a fiat reserve.
Considering the turnover of funds in the cryptocurrency sphere, this is unattainable even for the largest companies working with digital technologies.
In 2021, the authorities revised their earlier decisions, and opened access to the cryptosphere for more projects. Sandboxed projects are exempt from the cash reserve requirement. They also do not need a license to carry out money transfers until 2022.
It is worth noting that the program should be launched back in March 2020, but this was prevented by the COVID-19 pandemic. Hawaii is in high demand for blockchain technology and BTC, as elsewhere in the US. Therefore, the decision of the Hawaiian authorities is of enormous importance for local business!