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Hawaii Senate Approves Crypto Task Force In New Bill

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Today, the Hawaii State Senate has unanimously approved the launch of a specialised task force to explore the use and regulation of the crypto ecosystem through bill SB2695. The bill was co-signed by Sens. Donovan Dela Cruz and Rosalyn “Roz” Baker.

Hawaii's bill seeks to determine how the state could regulate, oversee, and potentially use blockchain and cryptocurrencies. The task force is to study data from other states and develop "a plan to expand blockchain adoption in both the private and public sectors," among other things.

The task force will be comprised of government officials and members of the Web3 space, plus professors from the University of Hawaii that specialise in digital currency. The task force will be dissolved after reporting its findings before the 2024 legislative session commences.


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