Hawaii Approves Task Force to Regulate Bitcoin and Web3 Technology

Hawaii looks to be the latest state to seek to regulate Bitcoin and cryptocurrency

Aloha Crypto! Hawaii Approves Task Force To Regulate Bitcoin And Web3 Technology

“Two Hawaii State Blockchain Legislature committees unanimously supported the formation of a specialized task force to examine and regulate the crypto and blockchain ecosystems: Commerce and Consumer Protection (CPN) and Ways and Means (WAM).

Hawaii’s law wants to examine how the government may regulate, supervise, and potentially exploit blockchain and cryptocurrency technology.

The task committee plans to study data from other jurisdictions and produce “a roadmap to boost blockchain usage in both the private and public sectors,” among other things.

Once enacted into law, the crypto and blockchain task force will be required to deliver a report summarizing its findings and recommendations at least 20 days before the regular session of the House of Representatives in 2023 convenes.

The task group will consist of 11 individuals nominated by the governor, including representatives from a blockchain payments solution firm, a cryptocurrency exchange, and a cryptocurrency association.”



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