Is crypto coming to an end in Hawaii?

HONOLULU (KHON2) — Cryptocurrency could be coming to an end in the islands. That’s if the legislature doesn’t pass new legislation.

Is bitcoin illegal in Hawaii?

Bitcoin is not illegal in Hawaii. It is just very hard for exchanges to operate in the state of Hawaii because of the reserve restrictions required by law. This makes purchasing Bitcoin more difficult than it is in other states. You are, however, allowed to own, buy, and sell Bitcoin if you can find others to trade with.

Do you need a license to sell cryptocurrency?

While many states regulate virtual currency under existing money transmitter rules, specific cryptocurrency laws and regulations vary state-by-state. A license is required for selling or issuing payment instruments, stored value, or receiving money or monetary value for transmission.

Are digital currency businesses exempt from Iowa's uniform Money Services Act?

There is no exclusion for digital currency businesses from Iowa’s Uniform Money Services Act in Iowa Code § 533C.103. Digital currency dealers such as Coinbase have obtained money services licenses from the Iowa Department of Banking. K.S.A. § 9-508 (h) ‘s definition of money transmission is broad enough to include digital currency.