Bill > SB2757

This bill establishes a digital asset charter program within Hawaii's Department of Commerce and Consumer Affairs, Division of Financial Institutions, effective January 1, 2027, to license, regulate, and oversee companies involved in digital asset business activities, which include the exchange, transfer, storage, or administration of digital assets like cryptocurrencies. The bill defines "digital asset" broadly as an electronically stored unit of value that can be owned, transferred, or traded, and outlines various "digital asset business activities" that will require a charter, while also specifying exemptions for certain activities or entities. Companies that participated in the Hawaii Digital Currency Innovation Lab are granted a temporary exemption to continue their digital asset business activities without a charter under specific conditions, requiring them to apply for a charter by March 1, 2027. The bill also amends existing laws to clarify that digital assets are not considered "monetary value" for certain purposes and to include digital asset companies in the scope of criminal history record checks for licensing and employment. Additionally, it appropriates $500,000 to establish and implement the new charter program, with the overall act taking effect on July 1, 2050.

Budget and Finance, Business and Industry

https://www.capitol.hawaii.gov/session/measure_indiv.aspx?billtype=SB&billnumber=2757&year=2026