Hawaii's crypto sandbox to allow more participants

The state reopened applications for Digital Currency Innovation Lab (DCIL) hopefuls on 25 January 2021, raising the possibility that yet more crypto exchanges and service providers could soon do business in the historically restrictive-to-crypto islands.

State law requires crypto companies maintain cash reserves equivalent to their digital currency holdings, an unreachable bar for even the largest exchanges. But sandbox participants are exempt from that requirement, and from acquiring the usual money transmitter license, through June 2022.