{"id":39133,"date":"2021-03-18T11:32:04","date_gmt":"2021-03-18T09:32:04","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=39133"},"modified":"2025-08-30T08:05:37","modified_gmt":"2025-08-30T05:05:37","slug":"hawaii-lawmakers-urge-easing-of-cryptocurrency-company-requirements","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/hawaii-lawmakers-urge-easing-of-cryptocurrency-company-requirements\/","title":{"rendered":"Hawaii lawmakers urge easing of cryptocurrency company requirements"},"content":{"rendered":"<p>Hawaii&#8217;s Department of Commerce and Consumer Protection must review the requirements for virtual asset service providers (VASP). This was <a href=\"https:\/\/legiscan.com\/HI\/text\/HR94\/2021\" target=\"_blank\" rel=\"nofollow noopener\">\u0437\u0430\u044f\u0432\u0438\u043b\u0438<\/a> \u0447\u043b\u0435\u043d\u044b \u041f\u0430\u043b\u0430\u0442\u044b \u043f\u0440\u0435\u0434\u0441\u0442\u0430\u0432\u0438\u0442\u0435\u043b\u0435\u0439 \u0448\u0442\u0430\u0442\u0430 \u043e\u0442 \u0414\u0435\u043c\u043e\u043a\u0440\u0430\u0442\u0438\u0447\u0435\u0441\u043a\u043e\u0439 \u043f\u0430\u0440\u0442\u0438\u0438.<\/p>\n<p><!--more--><\/p>\n<p>Currently, crypto firms are required to hold reserves equal to the value of clients&#8217; digital assets. Legislators called this rule &#8220;too burdensome&#8221; for VASPs and urged its repeal.<\/p>\n<blockquote>\n<p>&#8220;Reserve requirements that Hawaii applies to firms dealing with digital assets do not align with the provisions of other states,&#8221; the document states.<\/p>\n<\/blockquote>\n<p>In 2017, the Bitcoin exchange Coinbase halted services for customers in Hawaii. In the platform&#8217;s view, the regulator&#8217;s reserve requirements created an insurmountable financial burden for the company.<\/p>\n<p>In March 2020, Hawaii launched the pilot program Digital Currency Innovation Lab, under which businesses could issue digital assets without a license to provide payments services.<\/p>\n<p style=\"margin: 12px auto 6px auto; font-family: Helvetica,Arial,Sans-serif; font-style: normal; font-variant: normal; font-weight: normal; font-size: 14px; line-height: normal; font-size-adjust: none; font-stretch: normal; -x-system-font: none; display: block;\"><a style=\"text-decoration: underline;\" title=\"View HCR118_ on Scribd\" href=\"https:\/\/www.scribd.com\/document\/499269766\/HCR118#from_embed\">HCR118_<\/a> by <a style=\"text-decoration: underline;\" title=\"View ForkLog's profile on Scribd\" href=\"https:\/\/www.scribd.com\/user\/456422024\/ForkLog#from_embed\">ForkLog<\/a> on Scribd<\/p>\n<p><iframe loading=\"lazy\" id=\"doc_97134\" class=\"scribd_iframe_embed\" title=\"HCR118_\" src=\"https:\/\/ru.scribd.com\/embeds\/499269766\/content?start_page=1&#038;view_mode=scroll&#038;access_key=key-07E3G8vnBl0mKf7X9TOo\" width=\"100%\" height=\"600\" frameborder=\"0\" scrolling=\"no\" data-auto-height=\"false\" data-aspect-ratio=\"0.7729220222793488\"><\/iframe><\/p>\n<p>Subscribe to ForkLog news on <a href=\"https:\/\/vk.com\/forklogcom\" target=\"_blank\" rel=\"nofollow noopener\">VK<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Hawaii Department of Commerce and Consumer Protection must review the requirements for virtual asset service providers (VASP). This was stated by Democratic members of the state House of Representatives.<\/p>\n","protected":false},"author":1,"featured_media":39134,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[36,26],"class_list":["post-39133","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-regulation","tag-usa"],"aioseo_notices":[],"amp_enabled":true,"views":"10","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/39133","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=39133"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/39133\/revisions"}],"predecessor-version":[{"id":39135,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/39133\/revisions\/39135"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/39134"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=39133"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=39133"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=39133"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}