Hawaii Senate committees favor task force to regulate crypto, blockchain

Hawaii Senate committees favor task force to regulate crypto, blockchain


Two committees of the Hawaii State Legislature — Commerce and Consumer Protection (CPN) and Ways and Means (WAM) — unanimously approved the launch of a specialized task force to explore the use and regulation of the crypto ecosystem.

In a letter addressed to the President of the Hawaii Senate, Ron Kouchi, legislative members Donovan Dela Cruz and Roz Baker wrote in support of creating a “Blockchain and Cryptocurrency Task Force” that was first proposed in bill SB2695.

SB2695, titled “A BILL FOR AN ACT RELATING TO CRYPTOCURRENCY,” sought to establish a task force within the Department of Budget and Finance to review and compile country-wide data on crypto and blockchain. The task force would submit findings and potential legislation back to the State Capitol — which involves

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