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HB1560
HOUSE OF REPRESENTATIVES
H.B. NO.
1560
THIRTY-THIRD LEGISLATURE, 2026
STATE OF HAWAII
A BILL FOR AN ACT
relating
to consumer protection
.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
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SECTION 1.
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Chapter 481B, Hawaii Revised Statutes, is
amended by adding a new part to be appropriately designated and to read as
follows:
"
PART
.
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DIGITAL FINANCIAL
ASSETS
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�481B-
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Definitions.
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As
used in this part:
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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.
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"Digital financial asset" does not include:
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(1)
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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;
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(2)
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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
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(3)
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A security
registered with or exempt from registration with the United States Securities
and Exchange Commission or a security registered or exempt from registration
under chapter 485A.
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"Digital financial asset
transaction kiosk" means an electronic information processing device that
is capable of accepting or dispensing United States currency by means of credit
card or cash in exchange for a digital financial asset.
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"Digital financial asset
wallet" means a software application or other mechanism providing a means
for holding, storing, and transferring digital financial assets.
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"Digital financial asset wallet
address" means a unique public alphanumeric identifier that is associated
with a type of digital financial asset and digital financial asset wallet and
that allows for the sending and receiving of digital financial assets.
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"Operator" means a person
who owns, operates, or manages a digital financial asset transaction kiosk
located in the State.
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�481B-
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Digital financial asset kiosks; prohibition
on access to a digital financial asset wallet from multiple customers.
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(a)
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Beginning October 1, 2026, it
shall be an unlawful practice under this chapter for an operator to own,
operate, or manage in the State a digital financial asset kiosk that allows any
two customers to conduct transactions with the same digital financial asset
wallet address.
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(b)
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Each transaction in violation of
subsection (a) shall be a separate offense.
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�481B-
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Digital financial asset kiosks; limited
option to cancel transaction.
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(a)
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Beginning
October 1, 2026, the owner, operator, or manager of a digital financial asset
kiosk located within the State shall, at the expense of the owner, operator, or
manager, allow a customer to cancel and receive a full refund for a digital
financial asset transaction conducted at such kiosk if:
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(1)
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The transaction
was the customer's first digital financial asset transaction;
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(2)
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The digital
financial asset transaction involves use of a digital financial asset wallet;
and
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(3)
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Within sixty days
after the digital financial kiosk transaction, the customer contacts the owner,
operator, or manager of the kiosk and a government or law enforcement entity
regarding the fraudulent nature of the transaction and submits proof of the fraud,
such as a police report or notarized declaration detailing the fraudulent
nature of the transaction.
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(b)
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Each transaction that an owner,
operator, or manager of a digital financial asset kiosk fails to cancel or
refund pursuant to subsection (a) shall constitute a separate offense."
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SECTION 2.
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This Act shall take effect upon its approval.
INTRODUCED BY:
_____________________________
Report Title:
Consumer
Protection; Digital Financial Assets; Virtual Currencies; Kiosks; Digital
Financial Asset Wallet Address
Description:
Beginning
10/1/2026, prohibits digital financial asset transaction kiosks from allowing any
two customers from conducting transactions with the same digital financial
asset wallet address and requires operators to provide full refunds under
certain circumstances.
The summary description
of legislation appearing on this page is for informational purposes only and is
not legislation or evidence of legislative intent.