HI SB2696

Authorizes the Director of Finance to approve state agencies to enter into virtual currency payment agreements with persons or virtual currency issuers.

Allows state agencies to accept convertible virtual currency (including cryptocurrency) as payment for goods, services, taxes, fees, fines, and other amounts owed to the state.

Requires any convertible virtual currency received by a state agency to be converted to United States dollars within 24 hours of receipt.

Permits state agencies to charge service fees to persons or virtual currency issuers not exceeding the actual costs incurred by the agency in connection with the transaction.

Requires the Director of Finance to adopt rules under Chapter 91 of Hawaii Revised Statutes to implement the provisions of this Act.