Hawaii Becomes Latest State to Approve Task Force to Examine Bitcoin, Web3 Technology
The Hawaii State Senate today approved bill SB2695, co-signed by Sens. Donovan Dela Cruz and Rosalyn “Roz” Baker, that establishes a blockchain and cryptocurrency task force.As crypto becomes more mainstream, thanks partly to the interest in NFTs, governments worldwide are looking for ways to regulate and take advantage of digital assets like Bitcoin.
In March, President Joe Biden signed an executive order for “Ensuring Responsible Development of Digital Assets,” intending to protect American citizens from scams while not stifling innovation. State governments are following suit.Hawaii’s bill, “A Bill for an Act Related to Cryptocurrency,” aims to see how the state can regulate, provide oversight, and potentially use blockchain technology and cryptocurrency.
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