RELATING TO DIGITAL FINANCIAL ASSET.

Active

The official status still shows this bill as active or still awaiting another formal step.

Sponsor: TAKENOUCHI, CHUN, KEOHOKAPU-LEE LOY, KILA, KUSCH, LAMOSAO, MARTEN, MATAYOSHI, MIYAKE, POEPOE
Last action: 2025-12-08
Official status: Carried over to 2026 Regular Session.
Effective date: Not listed

Plain English Breakdown

The bill text specifies the daily limit as $1,000, not $2,000 as stated in the candidate explanation.

Limiting Digital Financial Asset Kiosks

This bill sets a daily limit of $1,000 on transactions through digital financial asset kiosks in Hawaii.

What This Bill Does

Imposes a daily maximum of $1,000 for transactions at digital financial asset transaction kiosks.

Who It Names or Affects

Operators of digital financial asset transaction kiosks in Hawaii
Customers using digital financial asset transaction kiosks

Terms To Know

Digital Financial Asset: A digital representation of value used as a medium of exchange, unit of account, or store of value, but not legal tender.
Transaction Kiosk: An electronic device that exchanges cash for digital financial assets.

Limits and Unknowns

The bill does not specify what happens if the daily limit is exceeded.
It is unclear how this law will be enforced or monitored.

Amendments

These notes stay tied to the official amendment files and metadata from the legislature.

HD1

Hawaii published version HD1

Plain English: This amendment adds a new law that limits the amount of money a digital financial asset kiosk can accept or dispense from one person to $1,000 per day.

Adds a daily limit of $1,000 for transactions through digital financial asset kiosks.
Defines key terms such as 'digital financial asset,' 'cash,' and 'operator.'

The effective date is set very far in the future (July 1, 3000), which seems unusual and might indicate a placeholder or error.

HD2

Hawaii published version HD2

Plain English: This amendment adds a new law that limits the amount of money a digital financial asset kiosk can handle in one day to $1,000 per customer.

Adds a daily transaction limit of $1,000 for each customer using a digital financial asset kiosk.

The amendment specifies an effective date far into the future (July 1, 3000), which is unusual and may indicate it's not intended to be implemented immediately or at all.

Bill History

2025-12-08 D
Carried over to 2026 Regular Session.
2025-03-06 S
Referred to LBT, CPN.
2025-03-06 S
Passed First Reading.
2025-03-06 S
Received from House (Hse. Com. No. 347).
2025-03-04 H
Passed Third Reading as amended in HD 2 with none voting aye with reservations; Representative(s) Garcia, Muraoka voting no (2) and Representative(s) Pierick, Ward excused (2). Transmitted to Senate.
2025-02-28 H
Forty-eight (48) hours notice Tuesday, 03-04-25.
2025-02-28 H
Reported from JHA (Stand. Com. Rep. No. 1059) as amended in HD 2, recommending passage on Third Reading.
2025-02-25 H
The committee on JHA recommend that the measure be PASSED, WITH AMENDMENTS. The votes were as follows: 7 Ayes: Representative(s) Tarnas, Poepoe, Belatti, Hashem, Perruso, Takayama, Todd; Ayes with reservations: none; Noes: none; and 4 Excused: Representative(s) Cochran, Kahaloa, Garcia, Shimizu.
2025-02-21 H
Bill scheduled to be heard by JHA on Tuesday, 02-25-25 2:00PM in House conference room 325 VIA VIDEOCONFERENCE.
2025-02-11 H
Passed Second Reading as amended in HD 1 and referred to the committee(s) on JHA with none voting aye with reservations; Representative(s) Garcia, Muraoka, Pierick voting no (3) and Representative(s) Cochran, Ward excused (2).
2025-02-11 H
Reported from CPC (Stand. Com. Rep. No. 420) as amended in HD 1, recommending passage on Second Reading and referral to JHA.
2025-02-04 H
The committee on CPC recommend that the measure be PASSED, WITH AMENDMENTS. The votes were as follows: 7 Ayes: Representative(s) Matayoshi, Chun, Ilagan, Ichiyama, Iwamoto, Marten, Tam; Ayes with reservations: none; 1 Noes: Representative(s) Pierick; and 2 Excused: Representative(s) Kong, Lowen.
2025-01-31 H
Bill scheduled to be heard by CPC on Tuesday, 02-04-25 2:00PM in House conference room 329 VIA VIDEOCONFERENCE.
2025-01-27 H
Referred to CPC, JHA, referral sheet 4
2025-01-23 H
Introduced and Pass First Reading.
2025-01-22 H
Pending introduction.

Official Summary Text

RELATING TO DIGITAL FINANCIAL ASSET.
Digital Financial Asset Transaction Kiosk; Daily Maximum; Cryptocurrency
Imposes a daily maximum of $1,000 on transactions through a digital financial asset transaction kiosk. Effective 7/1/3000. (HD2)

Current Bill Text

Read the full stored bill text

HB1277

HOUSE OF REPRESENTATIVES

H.B. NO.

1277

THIRTY-THIRD LEGISLATURE, 2025

STATE OF HAWAII

A BILL FOR AN ACT

relating
to digital financial asset
.

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

����
SECTION
1.
�
Chapter 481B, Hawaii Revised
Statutes, is amended by adding a new section to part I to be appropriately
designated and to read as follows:

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"
�481B-
�
Digital financial asset transaction
kiosks; daily cap.
�
(a)
�

An operator shall accept or dispense no more than $2,000 per day from or
to a single customer through a digital financial asset transaction kiosk.

����
(b)
�

As used in this section:

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"Cash" means physical United
States currency, both coins and paper currency.

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"Digital
financial asset" means a digital representation of value that is used as a
medium of exchange, unit of account, or store of value, and that is not legal
tender, regardless of whether denominated in legal tender.
�
"Digital financial asset" does not
include:

����
(1)
�
A transaction in which a merchant grants,
as part of an affinity or rewards program, value that cannot be taken from or
exchanged with the merchant for legal tender, bank or credit union credit, or a
digital financial asset;

����
(2)
�
A digital representation of value issued by
or on behalf of a publisher and used solely within an online game, game
platform, or family of games sold by the same publisher or offered on the same
game platform; or

����
(3)
�
A security registered with or exempt from
registration with the United States Securities and Exchange Commission or a
security qualified with or exempt from qualifications with the department of
commerce and consumer affairs.

����
"Digital
financial asset transaction kiosk" means an electronic information
processing device that is capable of accepting or dispensing cash in exchange
for a digital financial asset.

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"Operator"
means a person who owns, operates, or manages a digital financial asset
transaction kiosk located in the State.
"

����
SECTION
2.
�
New statutory material is
underscored.

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SECTION 3.
�
This Act shall take effect upon its approval.

INTRODUCED BY:

_____________________________

Report Title:

Digital
Financial Asset Transaction Kiosk; Daily Maximum; Cryptocurrency

Description:

Imposes a
daily maximum of $2,000 on transactions through a digital financial asset
transaction kiosk.

The summary description
of legislation appearing on this page is for informational purposes only and is
not legislation or evidence of legislative intent.