Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure
Illinois Senate has advanced a bill to establish comprehensive regulations for crypto businesses operating in the state and address concerns about digital assets-related fraud cases, which saw over $160 million in losses in 2023.
Illinois Advances Crypto Consumer Protection Bill
Trending: Tesla Owner Takes Punishment of Vandal Into His Own Hands and It Might Just Be Worse Than Jail
On Thursday, Illinois’ Senate Executive Committee passed Senate Bill 1797 (SB1797), also known as the Digital Assets and Consumer Protection Act, introduced by State Senator Mark Walker in February.
The bill, co-sponsored by State Senators Karina Villa, Rachel Ventura, and Mike Porfirio, aims to “crackdown on more than $163 million lost to cryptocurrency fraud in Illinois in 2023” by tightening the state’s regulations.
Join the conversation!
Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!