Regulatory moves on cryptocurrencies are of paramount importance for industry adoption. While Malta has been considered the home of cryptocurrency exchanges for many years, Hawaii seems to be jealous of this title. 12 cryptocurrency exchanges in the country were allowed to operate unlicensed for two years now.
The future of cryptocurrencies will be predicted in Hawaii
A pilot program was announced in Hawaii recently. Within the scope of the program initiated with the cooperation between Hawaii’s digital currencies innovation lab and DFI, giant cryptocurrency exchanges such as Gemini and BitFlyer were able to operate without licensing.
According to CoinDesk’s report, this pilot program is of great importance in predicting what kind of cryptocurrency conjuncture will be in Hawaii in the future. The program, announced in March, is expected to give important clues about the future of the financial and technical outlook in the country. With this regulation, the mentioned crypto exchanges are allowed to operate without any requirement.
Leishman: “We are very excited to be first.”
Joel Edgerton, COO of BitFlyer, one of the exchanges that managed to get permission, said in a statement that he was very happy with the cooperation they established with the Hawaiian government. According to Edgerton, the Hawaiian state’s taking this step creates an important test environment for the future of bitcoin and cryptocurrency trading.
River Financial CEO Alex Leishman said in his statement that they are very excited to be one of the first bitcoin platforms to operate legally in Hawaii.
