Two of the main committees of the state of Hawaii – Commerce and Consumer Protection (CPN) and Ways and Means (WAM) – greenlighted the launch of a unit called Blockchain and Cryptocurrency Task Force. The division’s main goals will be to supervise the local digital asset ecosystem and explore the employment of cryptocurrencies.
Hawaii Seeking to Regulate Crypto
In a letter addressed to Hawaii’s President of the Senate – Ron Kouchi – the two committees outlined the “emerging growth and popularity” of the cryptocurrency sector in the past few years. However, the agencies argued there is “little” regulation on the industry.
Since both committees believe in the future of the asset class, they approved the launch of a specialized unit, dubbed Blockchain and Cryptocurrency Task Force:
“As there is vast potential for both the use and regulation of blockchain technology and cryptocurrency, it is in the interests of the State and its consumers to determine whether or how t
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