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HI HR94
Resolution
Status
3/31/2021
Primary Sponsor
Patrick Branco
Click for details
AI Summary
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Requests the Department of Commerce and Consumer Affairs to reconsider its 2016 ruling on asset reserve requirements for digital currency, virtual currency, and cryptocurrency companies operating in Hawaii.
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Calls for aligning Hawaii's asset reserve requirements for these companies with the asset reserve requirements in other states.
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Action to be taken following completion of a study by the Division of Financial Institutions and Hawaii Technology Development Corporation on digital currency.
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Directs that certified copies be sent to the Director of Commerce and Consumer Affairs, Commissioner of Financial Institutions, and Executive Director of the Hawaii Technology and Development Corporation.
Legislative Description
Requesting The Department Of Commerce And Consumer Affairs, Following The Completion Of The Department Of Commerce And Consumer Affairs' Division Of Financial Institutions' And Hawaii Technology Development Corporation's Study, To Reconsider Its 2016 Ruling On Asset Reserve Requirements For Digital Currency Companies, Virtual Currency Companies, And Cryptocurrency Companies To Conduct Business In Hawaii And To Align The State's Asset Reserve Requirements For These Companies With The Asset Reserve Requirements In Other States.
DCCA
Last Action
Resolution adopted in final form.
3/31/2021