HI SR26

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

Task force composition includes 13 members: a Division of Financial Institutions representative (chair), Director of Finance, 3 Senate members, 3 House members, University of Hawaii blockchain professor, cryptocurrency company executive, bank representative, cryptocurrency exchange representative, and representatives from blockchain companies and cryptocurrency associations, plus one public member.

Task force requested to review blockchain and cryptocurrency use data nationwide, develop a plan to expand blockchain adoption in private and public sectors, and compile potential legislation.

Task force must submit findings, recommendations, and proposed legislation to the Legislature no later than 20 days before the 2023 Regular Session convenes.

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