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HI SB3184
Bill
Status
Introduced
1/28/2026
Primary Sponsor
Glenn Wakai
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AI Summary
- Authorizes Hawaii state-chartered banks and credit unions to provide digital asset custody services, including safekeeping of cryptocurrencies, stablecoins, and non-fungible tokens, in either fiduciary or non-fiduciary capacity
- Requires institutions to maintain one-to-one full reserves of each digital asset type owed to customers and undergo independent audits at least quarterly to verify holdings
- Permits institutions to offer staking services on customer digital assets, with customers retaining ownership of staked assets and entitled to staking rewards minus disclosed fees
- Establishes cybersecurity and anti-money laundering compliance requirements, including mandatory notification to the commissioner within 72 hours of any material cybersecurity incident
- Requires 60-day advance written notice to the commissioner of financial institutions before initiating digital asset services, with written approval needed for fiduciary custody services
Legislative Description
Relating To Digital Assets.
Financial Institutions
Last Action
Referred to CPN/LBT, WAM.
2/2/2026
Committee Referrals
Commerce and Consumer Protection2/2/2026
Full Bill Text
No bill text available