THE SENATE	S.B. NO.	2695
THIRTY-FIRST LEGISLATURE, 2022
STATE OF HAWAII

A BILL FOR AN ACT

 

 

relating to cryptocurrency.

 

 

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

 

     SECTION 1.  (a)  There is established the blockchain and cryptocurrency task force to be placed within the department of budget and finance for administrative purposes.

     (b)  The task force shall consist of the following members:

     (1)  Three members of the senate and three members of the house of representatives who shall be appointed by the president of the senate and speaker of the house of representatives, respectively; provided that no more than four of the members shall be of the same political party; provided further that the president of the senate and speaker of the house of representatives shall designate one member to serve as chairperson of the task force;

     (2)  The director of finance or the director's designee;

     (3)  A president or chief financial officer of a Hawaii-based cryptocurrency company who shall be appointed by the governor;

     (4)  A representative of a cryptocurrency exchange who shall be appointed by the governor;

     (5)  A representative of a company with a business model that uses blockchain for non-cryptocurrency transaction purposes who shall be appointed by the governor;

     (6)  A professor from the University of Hawaii who specializes in blockchain who shall be appointed by the governor;

     (7)  A representative of a blockchain payments solution company who shall be appointed by the governor;

     (8)  A representative of a blockchain or cryptocurrency association who shall be appointed by the governor; and

     (9)  One member of the public who shall be appointed by the governor.

     (c)  The task force shall:

     (1)  Meet as often as the chairperson deems necessary;

     (2)  Review data on the scope of blockchain and cryptocurrency throughout the country;

     (3)  Compile an overview of potential legislation;

     (4)  Solicit ideas and opinions of industry experts on additional legislation; and

     (5)  Submit a report of its findings and recommendations, including any proposed legislation, to the legislature no later than twenty days prior to the convening of the regular session of 2023.

     (d)  The members of the task force shall not be compensated for their services, but shall be reimbursed for necessary expenses, including travel expenses, incurred while participating in meetings and events approved by the chairperson.

     SECTION 2.  This Act shall take effect upon its approval.

 

INTRODUCED BY:	_____________________________

 

 

Report Title:

Blockchain; Cryptocurrency; Study; Task Force; Established

 

Description:

Establishes a Blockchain and Cryptocurrency Task Force.

 

 

 

The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.