HI SCR31

Department of Commerce and Consumer Affairs is requested to create a task force to study approval of blockchain technology and cryptocurrency in Hawaii.

Task force composition includes 13 members: Division of Financial Institutions representative (chair), Director of Finance, three Senate members, three House members, University of Hawaii blockchain professor, and representatives from Hawaii-based cryptocurrency companies, banks, exchanges, and blockchain associations, plus one member of the public.

Task force is requested to review nationwide blockchain and cryptocurrency usage data, develop plans to expand blockchain adoption in private and public sectors, and compile an overview of potential legislation.

Task force must submit findings, recommendations, and any proposed legislation to the Legislature no later than twenty days before the 2023 Regular Session.

Certified copies of the resolution are to be transmitted to the Director of Commerce and Consumer Affairs, Director of Finance, Commissioner of Financial Institutions, and President of the University of Hawaii System.