Hawaii Governor Faces Decision on Cash Crypto Purchase Ban

Hawaii is at a crossroads regarding cryptocurrency kiosks. Governor Josh Green has until the end of the month to decide on House Bill 1642, which prohibits consumers from using cash to buy cryptocurrency at these machines.

The bill's supporters argue that it will help prevent crypto scams, which have resulted in millions of dollars in losses for Hawaiians. According to data provided by AARP, in 2024, the losses were just under $1 million, while in 2025, they jumped to $3.85 million.

State Representative Scot Matayoshi, chair of the House Consumer Protection and Commerce Committee, believes that this legislation is crucial in protecting Hawaiians from scammers. He shared his own experience with a crypto scam, where he was almost convinced to pay a fine by sending money to a kiosk at a Safeway.

However, opponents of the bill argue that it will have unintended consequences, particularly for low-income residents who rely on these kiosks for financial services. Hilt Ventures, which operates 21 out of 59 cryptocurrency ATMs in Hawai'i, fears that if the legislation becomes law, their business would shut down.