Hawaii’s New Money Transmitters Act Will Require Virtual Currency Licenses (news.bitcoin.com)

The state of Hawaii is planning to regulate the use of bitcoin and digital currencies that would require licensure to transmit cryptocurrency-based funds. Two bills introduced by a group of partisan Hawaiian lawmakers are focused on digital currencies as a monetary instrument under the state’s Money Transmitters Act.
Also read: Coinbase

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U.S. Government Cracks Down on Illegal Bitcoin Money Transmitters (news.bitcoin.com)

Owning and operating a money transmitter service in the U.S. is “illegal” unless it is registered with State agencies. Unfortunately, this is also true if one uses Bitcoin to exchange for fiat currency. Bitcoin is not immune from State or Federal laws regulating the flow of money, and agents can track bitcoin transfers over the blockchain.

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