Hawaii SB362 clarifies that digital currency companies must obtain a money transmitters license.

Hawaii SB362 aims to ensure digital currency companies comply with existing regulatory frameworks by clarifying that Chapter 489D of the Hawaii Revised Statutes applies to them. The bill responds to the rapid growth of digital currency companies and the need for appropriate regulatory measures. It mandates that digital currency companies obtain a money transmitters license, aligning their operations with state regulations. The bill also includes a severability clause to ensure that any invalid provisions do not affect the rest of the chapter.

Hawaii SB362 clarifies that digital currency companies must obtain a money transmitters license.

Hawaii SB362 aims to ensure digital currency companies comply with existing regulatory frameworks by clarifying that Chapter 489D of the Hawaii Revised Statutes applies to them. The bill responds to the rapid growth of digital currency companies and the need for appropriate regulatory measures. It mandates that digital currency companies obtain a money transmitters license, aligning their operations with state regulations. The bill also includes a severability clause to ensure that any invalid provisions do not affect the rest of the chapter.