Hawaii Digital Currency Innovation Lab scraps money transmitter license for digital asset firms

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The post Hawaii Digital Currency Innovation Lab scraps money transmitter license for digital asset firms appeared first on CoinGeek.

With more locals utilizing UPI, India is struggling to promote its CBDCs, with both retail and wholesale CBDCs taking a plunge in usage, but the RBI has no plans of dropping these initiatives.The U.S.securities regulator announced that it had filed charges against Silvergate Capital Corporation, which operated the California-based 'crypto-friendly' Silvergate Bank.

It comes with various requirements and obligations, including submitting detailed information about the business, meeting minimum net worth requirements, maintaining detailed records of transactions, implementing anti-money laundering (AML) programs, and submitting regular reports to the DFI.

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Article Details

Author / Journalist: James Field

Category: Crypto

Markets: CanadaIndia

Topics: Department of Commerce and Consumer Affairs United States Digital Currency Innovation Lab Business Division of Financial Institutions Regulation Iris Ikeda Hawaii Hawaii Technology Development Corporation

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-04 @ 03:00:56 (3 days ago)

News Timezone: GMT +8:00

News Source URL: coingeek.com

Language: English

Article Length: 688 words

Reading Time: 4 minutes read

Sentences: 18 lines

Sentence Length: 39 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © CoinGeek

News ID: 21477213

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