Despite passage in the state’s House, the measure did not advance to the Senate but will now likely be “workshopped” over the summer. If passed, the bill would create the “Uniform Money Transmission Modernization Act and Digital Assets Regulation Act,” which would create a licensing system for entities wanting to engage in digital asset services in the state.
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Illinois Crypto Bill May Have New Life During Fall 'Veto Session'
In the wake of federal and state legal actions against certain cryptocurrency firms, a stalled Illinois regulatory bill may be revived during the state’s October veto session. So reports The State-Journal Register.
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