Bill Text: HI HB1277 | 2025 | Regular Session | Introduced
Bill Title: Relating To Digital Financial Asset.
Spectrum: Partisan Bill (Democrat 10-0)
Status: (Introduced) 2025-02-04 - The committee on CPC recommend that the measure be PASSED, WITH AMENDMENTS. The votes were as follows: 7 Ayes: Representative(s) Matayoshi, Chun, Ilagan, Ichiyama, Iwamoto, Marten, Tam; Ayes with reservations: none; 1 Noes: Representative(s) Pierick; and 2 Excused: Representative(s) Kong, Lowen. [HB1277 Detail]
Download: Hawaii-2025-HB1277-Introduced.html
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HOUSE OF REPRESENTATIVES |
H.B. NO. |
1277 |
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THIRTY-THIRD LEGISLATURE, 2025 |
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STATE OF HAWAII |
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A BILL FOR AN ACT
relating to digital financial asset.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. Chapter 481B, Hawaii Revised Statutes, is amended by adding a new section to part I to be appropriately designated and to read as follows:
"§481B- Digital financial asset transaction
kiosks; daily cap. (a)
An operator shall accept or dispense no more than $2,000 per day from or
to a single customer through a digital financial asset transaction kiosk.
(b)
As used in this section:
"Cash" means physical United
States currency, both coins and paper currency.
"Digital financial asset" means a digital representation of value that is used as a medium of exchange, unit of account, or store of value, and that is not legal tender, regardless of whether denominated in legal tender. "Digital financial asset" does not include:
(1) A transaction in which a merchant grants, as part of an affinity or rewards program, value that cannot be taken from or exchanged with the merchant for legal tender, bank or credit union credit, or a digital financial asset;
(2) A digital representation of value issued by or on behalf of a publisher and used solely within an online game, game platform, or family of games sold by the same publisher or offered on the same game platform; or
(3) A security registered with or exempt from
registration with the United States Securities and Exchange Commission or a
security qualified with or exempt from qualifications with the department of
commerce and consumer affairs.
"Digital financial asset transaction kiosk" means an electronic information processing device that is capable of accepting or dispensing cash in exchange for a digital financial asset.
"Operator" means a person who owns, operates, or manages a digital financial asset transaction kiosk located in the State."
SECTION 2. New statutory material is underscored.
SECTION 3. This Act shall take effect upon its approval.
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INTRODUCED BY: |
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Report Title:
Digital Financial Asset Transaction Kiosk; Daily Maximum; Cryptocurrency
Description:
Imposes a daily maximum of $2,000 on transactions through a digital financial asset transaction kiosk.
The summary description
of legislation appearing on this page is for informational purposes only and is
not legislation or evidence of legislative intent.
