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❕NEWS The state of Hawaii has approved 12 crypto businesses with no license deal

B

Balint098

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As per Bitcoin.com, The state of Hawaii has given a greenlight for a dozen crypto firms in the state to conduct crypto-related business without license for two full years. This deal is part of a local government's program called the "Digital Currency Innovation Lab" that allows for crypto businesses to operate with no license. The state is forming a partnership with the Hawaii Division of Financial Institutions to bring this deal into reality. The approved companies are Apex Crypto, Bitflyer USA, Blockfi, Cex.io, Cloud Nalu, Coinme, Erisx, Flexa, Gemini Exchange, Novi Financial, River Financial, and Robinhood Crypto.
 
having a business without license is kind of a nice thing that will make you get rid from a lot of responsabilites, what would those mining firms give in back? i mean taxes or anything like that
 
This is encouragement and a good business enabling environment that Hawaii has provided for these companies the two years licence waver will enable put everything in shape within a short time .
 
As per Bitcoin.com, The state of Hawaii has given a greenlight for a dozen crypto firms in the state to conduct crypto-related business without license for two full years. This deal is part of a local government's program called the "Digital Currency Innovation Lab" that allows for crypto businesses to operate with no license. The state is forming a partnership with the Hawaii Division of Financial Institutions to bring this deal into reality. The approved companies are Apex Crypto, Bitflyer USA, Blockfi, Cex.io, Cloud Nalu, Coinme, Erisx, Flexa, Gemini Exchange, Novi Financial, River Financial, and Robinhood Crypto.
This is a good way to promote cryptocurrency in the country , these companies after two years will be willing to pay for licence in order to continue operating.
 
what would those mining firms give in back? i mean taxes or anything like that

Most likely they'll still pay taxes, there's no way the government let them not doing taxes lol.

This is encouragement and a good business enabling environment that Hawaii has provided for these companies the two years licence waver will enable put everything in shape within a short time .

Yep, it's an incentive for crypto businesses to flourish in the state, though criminals may also use this opportunity to run their business.
 
This is very good news for the crypto community, since the initial obstacles to obtaining the operating license delay the start of the business, with this they can test the market for two years and then decide whether to stay and get the operating license.
 
This is very good news for the crypto community, since the initial obstacles to obtaining the operating license delay the start of the business, with this they can test the market for two years and then decide whether to stay and get the operating license.
It is surely a good strategy to boost Crypto currencies activities in the state of Hawaii, very likely when there are more Exchangers and other Crypto businesses the license will come with fee attached to it.
 
It is surely a good strategy to boost Crypto currencies activities in the state of Hawaii, very likely when there are more Exchangers and other Crypto businesses the license will come with fee attached to it.
That is true, it is the most logical thing to do.
You think they are going to give them that license for free !!! This is an offer for them to test the crypto market without the need for a license paperwork and thus they can better develop their business, after 2 years there will be higher tax charges and the purchase of the license, which should not be cheap at all.
 
Well this would have effect on crypto awareness and innovations in the state , and they should also do better in monitoring their activities since they will be many
 
It is cool when they will put them into legal standing. so it is easier I think for people to check site or crypto currencies properly, legal or not, before they go investing
 
A very important aspect to take into account is knowing what the operating conditions of these companies are. But undoubtedly it offers many advantages when there is a company that operates under the protection of the law of some US state.
 
I have just seen Robinhood appearing in the list.It has been my best when it comes to stock investment. So I don't if the coin introduced are related.The services from robihood are awesome so if the coin doesn't have any licence then they must offer some good services as they have always.I don't know why when it come to licences I don't worry much so long as there is an opportunity to make money there is no problem.
 
having a business without license is kind of a nice thing that will make you get rid from a lot of responsabilites, what would those mining firms give in back? i mean taxes or anything like that
Good question. I found the article and there was no mention but I'm sure they'll have to pay taxes on profit (if there is any) and employees will pay income tax as usual. At the end of the 2 year grace period the businesses may not be allowed to continue operating in Hawaii and those that are allowed to continue will need to obtain the appropriate license (which licenses they need will be determined later) it seems like an interesting approach to nurturing a new industry while also correcting past mistakes. They were extremely strict with crypto businesses in the past in Hawaii.
 
That's why they are one of the highest listed countries in the sanctions list and the prices of products and the cost of living is higher because they charge the investors and the foreigners double and are the trouble makers they should have more sanctions put on them for promoting the money laundering schemes over the world and should be blacklisted from trading activities as well
 

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