Bill > HB1642

This bill aims to protect consumers from fraud involving digital financial asset transaction kiosks, commonly known as cryptoATMs, by establishing new regulations for their operators. Key provisions include daily and monthly transaction limits for individual customers, requiring operators to use blockchain analytics and tracing software to prevent transactions with known fraudulent wallets and block those linked to overseas exchanges, and mandating clear disclosures about terms, charges, exchange rates, and the risks associated with digital financial assets, such as their volatility and lack of government backing. Operators must also display a prominent warning about potential scams and provide customers with detailed receipts. Furthermore, the bill mandates full refunds for customers who report fraudulent transactions within specific timeframes and provide supporting documentation, and requires new customers' transactions to be held for at least 48 hours. Operators will also need to provide live customer service and establish a dedicated communication line for law enforcement agencies to facilitate fraud investigations.

Business and Industry, Justice

https://www.capitol.hawaii.gov/session/measure_indiv.aspx?billtype=HB&billnumber=1642&year=2026