Hawaii has become the latest destination to welcome cryptocurrency and blockchain development efforts, with the US state launching its own regulatory sandbox program.
Although not specifically mentioning igaming in its communications, the decision brings up the question of whether this could have a benefit for the sector down the line giving the relaxation of other betting verticals in the US over the past two years.
For now, The State of Hawaii’s Digital Currency Innovation Lab is looking for applicants to help it run through a two-year program that will strive to establish a baseline for future digital currency activity, an official press release said.
The state will look at new opportunities to introduce cryptocurrencies in a way that would benefit residents. The latest initiative is a combination of the efforts of various institutions, including the Department of Commerce and Consumer Affairs, Division of Financial Institutions (DFI), and Hawaii Technology Development Corporation (HTDC).
Commenting on these developments, HTDC Executive Director Len Higashi said that the creation of the Digital Currency Innovation Lab would allow the state to advance this financial technology and possibly reap benefits of this decision to be among the first to adopt the technology.
The state still has some catching up to do, after Ohio and Wyoming have decided to go ahead with their own programs. The Malta Gaming Authority, an iGaming watchdog, has also been working on its own crypto solution for casinos.
Whether this specifically leads to further regulatory clarity for the blockchain gaming sector remains to be seen, but either way, it’s yet another sign of a cryptocurrencies increasing presence in our day-to-day lives.
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