Hawaii Senate Committees Support Forming a Task Force to Regulate Cryptocurrency and Blockchain

The formation of a specialised task force to investigate the use and regulation of the crypto ecosystem was unanimously approved by two Hawaii State Legislature committees: Commerce and Consumer Protection (CPN) and Ways and Means (WAM). Legislative members Donovan Dela Cruz and Roz Baker wrote to Hawaii Senate President Ron Kouchi to support the creation of a “Blockchain and Cryptocurrency Task Force,” which was first proposed in bill SB2695. Hawaii Senate committees favor task force to regulatecrypto, blockchain https://t.co/DkhkSF5LVj #Diamante #Blockchain #DiamCircle — Diamante Media (@media_diamante) May 3, 2022 A Bill For An Act Relating to Cryptocurrency SB2695, dubbed “A BILL FOR AN ACT RELATING TO CRYPTOCURRENCY,” proposed forming a task group inside the Department of Budget and Finance to study and aggregate data on crypto and blockchain across the country. The task group would return to the State Capitol with its conclusions and prospective legislation, including a plan to extend blockchain usage in both the private and public sectors. The letter stated, “Both blockchain technology and cryptocurrency use and regulation have enormous potential.” “This measure establishes a task force to create a master plan to explore the use and regulation of blockchain and cryptocurrency.” The blockchain and cryptocurrency task force will have twenty days after the bill is passed into law to provide a report on its findings and rec...