THE SENATE

S.B. NO.

2493

THIRTY-THIRD LEGISLATURE, 2026

 

STATE OF HAWAII

 

 

 

 

 

 

A BILL FOR AN ACT

 

 

relating to digital assets.

 

 

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

 

     SECTION 1.  (a)  The department of commerce and consumer affairs' division of financial institutions shall collaborate with the Hawaii technology development corporation to conduct a two-year study on how to establish a state-level regulatory framework for digital assets.  The study shall:

     (1)  Gather data to establish a state-level regulatory framework for digital assets;

     (2)  Develop a regulatory framework into which payment stablecoin issuers could opt-in; and

     (3)  Explore economic opportunities that may arise with a state-regulated stablecoin marketplace.

     (b)  The department of commerce and consumer affairs' division of financial institutions and Hawaii technology development corporation shall submit a joint report of findings and recommendations, including any proposed legislation, to the legislature no later than twenty days prior to the convening of the regular session of 2029.

     SECTION 2.  There is appropriated out of the general revenues of the State of Hawaii the sum of $           or so much thereof as may be necessary for fiscal year 2026-2027 for the department of commerce and consumer affair's division of financial institutions to conduct a two-year study to gather data to establish a state-level regulatory framework for stablecoin digital assets, including but not limited to:

     (1)  The hiring of consultants or contractors;

     (2)  Equipment; and

     (3)  Technology costs.

     The sum appropriated shall be expended by the department of commerce and consumer affairs for the purposes of this Act; provided that the appropriation shall not lapse at the end of fiscal year 2026-2027; provided further that all moneys that are unencumbered as of June 30, 2028, shall lapse as of that date.

     SECTION 3.  This Act shall take effect on July 1, 2026.

 

INTRODUCED BY:

_____________________________

 

 

 

 

 

Report Title:

DCCA; HTDC; Division of Financial Institutions; Study; Digital Assets; Stablecoin; Regulatory Framework; Report; Appropriation

 

Description:

Requires the Department of Commerce and Consumer Affairs' Division of Financial Institutions and Hawaii Technology Development Corporation to conduct a two-year study to gather data on how to establish a state-level regulatory framework for stablecoin digital assets.  Requires a report to the Legislature.  Appropriates funds.

 

 

 

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