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Citizens in 49 states can now exchange and trade virtual currency such as Bitcoin. Hawaii is the odd state out, in part, because of an interpretation of our Money Transmitter law, which requires companies brokering purchases or sales to hold in reserve cash or other assets equal in value to virtual currency held for Hawaii customers. That condition has turned out to be too pricey.
Senate Bill 3082 would amend the law to make doing business in Hawaii more feasible. It would also require a much-needed consumer warning about risks tied to plunging into an emerging market based on a complex computer coding technology that few people completely understand.
Star power lends support to ‘March for Our Lives’
One of the built-in advantages of the Valley Isle is its powerful lure to star performers. Lots of musicians, for example, have vacation homes on Maui.
The resourceful high school students there are going to make the most of that fact, enlisting headliners such as Jack Johnson, Willie Nelson, Steven Tyler, Mick Fleetwood and Kris Kristofferson for the Saturday “Concert for Our Lives.”
It’s in support of the “March for Our Lives” demonstration promoting gun control. Not all the artists are teen-pleasers, but their parents — and baby-boomer grandparents — will want tickets. Smart.
