Hawaii
Bitcoin States
Hawaii underwent a significant pro-Bitcoin shift in 2022 when it ended its controversial Digital Currency Innovation Lab (DCIL) — a sandbox that had restricted Bitcoin exchanges — and began developing a new framework to license cryptocurrency businesses. In 2024, Hawaii passed HB 1750 to formally regulate digital asset service providers, replacing the restrictive licensing approach that had previously driven companies like Coinbase and Gemini to stop serving Hawaiian residents. The new framework aims to balance consumer protection with market access.
Details
- State
- Hawaii
- Status
- emerging
- Capital
- Honolulu
- Country
- USA
- Notable
- Reformed from restrictive DCIL sandbox that banned major exchanges; new DASP licensing framework (2024)
- Governor
- Josh Green
- Income Tax
- Yes
- Bill Number
- SB 114
- Description
- Hawaii introduced SB 114 to study Bitcoin as a state reserve asset. Hawaii is gradually opening to Bitcoin after historically strict money transmitter rules.
- Legislation
- HB 1750 digital asset licensing (2024); ended DCIL sandbox (2022)
- Abbreviation
- HI
- Reserve Proposed
- Yes
- Population Millions
- 1.4
- Bitcoin Mining Rights
- No
- Bitcoin Friendly Score
- low
More Bitcoin States
Arizona
Arizona signed limited Bitcoin reserve legislation allowing the state to hold Bitcoin from seized or forfeited assets, rather than purchasing it outright. This establishes a legal framework for Arizona to become a state Bitcoin holder through law enforcement activities. Arizona also considered more expansive Bitcoin reserve bills that would allow active treasury purchases, but these faced additional hurdles. Arizona's large retirement system (PSPRS) managing over $14 billion makes any state-level Bitcoin allocation strategically significant.
New Hampshire
New Hampshire became the first US state to sign a Bitcoin strategic reserve law into effect, with Governor Kelly Ayotte signing HB 302 in 2025. The law allows the state treasurer to invest up to 5% of certain state funds in Bitcoin and precious metals. Consistent with its "Live Free or Die" motto and libertarian political culture, New Hampshire also hosts the Free State Project — a movement of libertarians relocating to the state — many of whom are Bitcoin advocates.
Texas
One of the most Bitcoin-friendly states. Passed strategic Bitcoin reserve legislation and purchased ~$5M in BlackRock Bitcoin ETF (Nov 2025). Home to major mining operations and a supportive regulatory environment.
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