THE SENATE	S.B. NO.	2676
THIRTY-SECOND LEGISLATURE, 2024
STATE OF HAWAII

A BILL FOR AN ACT

RELATING to digital currency.

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

SECTION 1. The legislature finds that it is necessary to protect a person's right to choose whether to participate in a digital currency system and to ensure that the people of the State are not coerced into adopting digital currencies against their will. This Act therefore seeks to safeguard any person's choice, privacy, and security and maintain a fair and inclusive financial system that respects the diverse needs and preferences of all persons.

The purpose of this Act is to prohibit the State from requiring any person to adopt or use digital currency.

SECTION 2. The Hawaii Revised Statutes is amended by adding a new chapter to be appropriately designated and to read as follows:

"Chapter

PROTECTION OF INDIVIDUAL CHOICE IN DIGITAL CURRENCY USAGE

§   -1 Definitions. As used in this chapter:

"Digital currency" means any form of electronic or virtual currency, including cryptocurrency, central bank digital currency, and any other similar digital payment system.

"Person" means any individual or organization, including businesses and companies.

§   -2 Individual choice in digital currency usage. Every person shall have the right to choose whether to participate in a digital currency system and shall retain the freedom to transact and store value using traditional fiat currency, physical cash, or any other legal means of payment.

§   -3 Prohibition of forced digital currency adoption. No government entity shall mandate or coerce a person into adopting or using a digital currency against the person's will. The State shall not require a person to possess or use digital currency in any financial transaction, tax payment, or other legal obligation. No government entity shall deny a person access to a public service, benefit, or protected right solely based on the person's non-participation in a digital currency system.

§   -4 Protection of privacy and security. A person who chooses not to participate in a digital currency system shall not be subject to additional surveillance, monitoring, or scrutiny by any government entity. The State shall ensure the privacy and security of a person's financial transactions and personal information regardless of the person's participation in a digital currency system.

§   -5 Public awareness and education. The State shall promote public awareness and education regarding the benefits, risks, and potential implications of digital currencies through unbiased information sources to allow persons to make informed decisions relating to participation in a digital currency system.

§   -6 Private right of action. Nothing in this chapter shall be construed to preclude any person alleging a grievance as a result of a violation of this chapter from maintaining a civil action to petition a court to issue an injunction or grant other equitable relief appropriate to ensure substantial compliance with or to enforce this chapter. Nothing in this section shall restrict any right that any person may have to assert any other claim or bring any other action."

SECTION 3. If any provision of this Act, or the application thereof to any person or circumstance, is held invalid, the invalidity does not affect other provisions or applications of the Act that can be given effect without the invalid provision or application, and to this end the provisions of this Act are severable.

SECTION 4. This Act shall take effect upon its approval.

INTRODUCED BY:

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Report Title:

Digital Currency; Protection of Choice; Individuals; Organizations; Businesses; Companies

Description:

Prohibits the State from requiring any person to adopt or use digital currency.

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