STAND. COM. REP. NO. 2957

Honolulu, Hawaii

RE: S.B. No. 2757

S.D. 2

Honorable Ronald D. Kouchi

President of the Senate

Thirty-Third State Legislature

Regular Session of 2026

State of Hawaii

Sir:

Your Committees on Ways and Means and Judiciary, to which was referred S.B. No. 2757, S.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO DIGITAL ASSET CHARTERS,"

beg leave to report as follows:

The purpose and intent of this measure is to establish a regulatory framework for the use and trading of digital assets.

More specifically, this measure:

(1) Establishes a digital asset charter program to license, regulate, and oversee digital asset companies and digital asset activities; and

(2) Authorizes any company that participated in the Hawaii Digital Currency Innovation Lab to temporarily continue conducting digital asset business activities without a charter, in certain circumstances.

Your Committees received written comments in support of this measure from two individuals.

Your Committees received written comments on this measure from the Division of Financial Institutions of the Department of Commerce and Consumer Affairs.

Your Committees find that, as the use of digital assets grows, the need for regulation becomes more acute. Implementing a digital asset regulatory framework as proposed by this measure, will provide clarity for digital asset businesses, protections for digital asset customers, and incentives for businesses, including local businesses, to participate in and grow the industry.

Your Committees have amended this measure by:

(1) Changing the source of the appropriation from the general revenues of the State to the compliance resolution fund; and

(2) Making a technical, nonsubstantive amendment to correct a spelling error.

As affirmed by the records of votes of the members of your Committees on Ways and Means and Judiciary that are attached to this report, your Committees are in accord with the intent and purpose of S.B. No. 2757, S.D. 1, as amended herein, and recommend that it pass Third Reading in the form attached hereto as S.B. No. 2757, S.D. 2.

Respectfully submitted on behalf of the members of the Committees on Ways and Means and Judiciary,

________________________________ KARL RHOADS, Chair

________________________________ DONOVAN M. DELA CRUZ, Chair