Chapter 205 — FINANCIAL REGULATION

(205 ILCS 730/1) Sec. 1. Short title. This Act may be cited as the Blockchain Technology Act. (Source: P.A. 101-514, eff. 1-1-20.)

(205 ILCS 730/10) Sec. 10. Permitted use of blockchain. (a) A smart contract, record, or signature may not be denied legal effect or enforceability solely because a blockchain was used to create, store, or verify the smart contract, record, or signature. (b) In a proceeding, evid…

(205 ILCS 730/15) Sec. 15. Limitations to the use of blockchain. (a) If parties have agreed to conduct a transaction by use of a blockchain and a law requires that a contract or other record relating to the transaction be in writing, the legal effect, validity, or enforceability …

(205 ILCS 730/20) Sec. 20. Local government restrictions. (a) A unit of local government shall not: (1) impose any tax or fee on the use of a blockchain or smart contract by any person or entity; (2) require any person or entity to obtain from the unit of local government any cer…

(205 ILCS 730/5) Sec. 5. Definitions. As used in this Act: "Blockchain" means an electronic record created by the use of a decentralized method by multiple parties to verify and store a digital record of transactions which is secured by the use of a cryptographic hash of previous…

(205 ILCS 731/1-1) Sec. 1-1. Short title. This Act may be cited as the Digital Assets and Consumer Protection Act. (Source: P.A. 104-428, eff. 8-18-25.)

(205 ILCS 731/1-10) Sec. 1-10. Applicability. (a) This Act governs the digital asset business activity of a person doing business in this State or, wherever located, who engages in or holds itself out as engaging in the activity with or on behalf of a resident, to the extent not …

(205 ILCS 731/1-15) Sec. 1-15. General powers and duties. (a) The Department shall regulate digital asset business activity in this State, unless it is exempt pursuant to Section 1-10. To the extent permissible under federal law, the Department shall exercise nonexclusive oversig…

(205 ILCS 731/1-20) Sec. 1-20. Funds. (a) All moneys collected or received by the Department under this Act shall be deposited into the Consumer Protection Fund, which is hereby created as a special fund in the State treasury. The amounts deposited into the Consumer Protection Fu…

(205 ILCS 731/1-5) Sec. 1-5. Definitions. (a) As used in this Act: "Affiliate" means any person that controls, is controlled by, or is under common control with another person. For purposes of this definition, "control" means the possession, direct or indirect, of the power to di…

(205 ILCS 731/10-10) Sec. 10-10. Required policies and procedures. (a) An applicant, before submitting an application, shall create and a registrant, during registration, shall maintain, implement, update, and enforce, written compliance policies and procedures for all of the fol…

(205 ILCS 731/10-5) Sec. 10-5. General requirements. (a) Each registrant is required to comply with the provisions of this Act, any lawful order, rule, or regulation made or issued under the provisions of this Act, and all applicable federal and State laws, rules, and regulations…

(205 ILCS 731/15-10) Sec. 15-10. Application. (a) An application for a registration under this Act shall meet all of the following requirements: (1) The application shall be in a form and medium prescribed by the Department. The Department may require the filing of the applicatio…

(205 ILCS 731/15-15) Sec. 15-15. Renewal. (a) Registrations shall be subject to renewal every year using a common renewal period as established by the Department by rule. A registrant may apply for renewal of the registration by submitting a renewal application under subsection (…

(205 ILCS 731/15-20) Sec. 15-20. Nontransferable registration. A registration under this Act is not transferable or assignable. (Source: P.A. 104-428, eff. 8-18-25.)

(205 ILCS 731/15-5) Sec. 15-5. Registration required. A person shall not engage in digital asset business activity, or hold itself out as being able to engage in digital asset business activity, with or on behalf of a resident unless the person is registered in this State by the …

(205 ILCS 731/20-10) Sec. 20-10. Examination. (a)(1)(A) The Department may, at any time and from time to time, examine the business and any office, within or outside this State, of any covered person, or any agent of a covered person, in order to ascertain (i) the financial condi…

(205 ILCS 731/20-15) Sec. 20-15. Books and records. (a) A registrant shall maintain, for all digital asset business activity with or on behalf of a resident for 5 years after the date of the activity, a record of all of the following: (1) Any transaction of the registrant with or…

(205 ILCS 731/20-20) Sec. 20-20. Regulatory cooperation. The Department may cooperate, coordinate, jointly examine, consult, and share records and other information with the appropriate regulatory agency of another state, a self-regulatory organization, federal or state regulator…

(205 ILCS 731/20-25) Sec. 20-25. Material business changes. (a) A registrant shall file with the Department a report of the following, as may be applicable: (1) A material change in information in the application for a registration under this Act or the most recent renewal report…

(205 ILCS 731/20-30) Sec. 20-30. Change in control. (a) As used in this Section, "proposed person to be in control" means the person that would control a registrant after a proposed transaction that would result in a change in control of the registrant. (b) The following rules ap…

(205 ILCS 731/20-35) Sec. 20-35. Mergers. (a) Before a proposed merger or consolidation of a registrant with another person, the registrant shall submit all of the following, as applicable, to the Department: (1) An application in a form and medium prescribed by the Department. (…

(205 ILCS 731/20-40) Sec. 20-40. Investigation of complaints. The Secretary shall be authorized at all times to maintain staff and facilities adequate to receive, record, and investigate complaints and inquiries made by any person concerning this Act and any covered persons, affi…

(205 ILCS 731/20-45) Sec. 20-45. Additional investigation and examination authority. In addition to any authority allowed under this Act or other applicable law, the Secretary shall have the authority to conduct investigations and examinations as follows: (1) For purposes of init…

(205 ILCS 731/20-5) Sec. 20-5. Surety bond; capital and liquidity requirements. (a)(1)(A) A registrant shall maintain a surety bond or trust account in United States dollars in a form and amount as determined by the Department for the protection of residents that engage in digita…

(205 ILCS 731/20-50) Sec. 20-50. Enforcement actions. (a) As used in this Article, "enforcement action" means an action including, but not limited to, all of the following: (1) Suspending or revoking a registration under this Act. (2) Ordering a person to cease and desist from do…

(205 ILCS 731/20-55) Sec. 20-55. Violations. (a) The Department may take an enforcement action against a covered person or any person otherwise subject to this Act in any of the following instances: (1) The covered person or person violates this Act, a rule adopted or order issue…

(205 ILCS 731/20-60) Sec. 20-60. Hearings. (a) Except as provided in subsection (b), the Department may take an enforcement action only after notice and opportunity for a hearing as appropriate in the circumstances. All hearings provided for in this Act shall be conducted in acco…

(205 ILCS 731/20-65) Sec. 20-65. Hearing rules. (a) The Department may, in accordance with the Illinois Administrative Procedure Act, adopt rules to provide for review within the Department of the Secretary's decisions affecting the rights of persons or entities under this Act. T…

(205 ILCS 731/20-70) Sec. 20-70. Civil penalties. (a) If a person other than a registrant has engaged, is engaging, or is about to engage in digital asset business activity with or on behalf of a resident in violation of this Act, the Department may assess a civil penalty against…

(205 ILCS 731/20-75) Sec. 20-75. Subpoena power. (a) The Secretary shall have the power to issue and to serve subpoenas and subpoenas duces tecum to compel the attendance of witnesses and the production of all books, accounts, records, and other documents and materials relevant t…

(205 ILCS 731/20-80) Sec. 20-80. Civil actions. (a) The Department may bring a civil action in accordance with the following: (1) If a person violates any provision of this Act, a rule or final order, or condition imposed in writing by the Department, the Department through the A…

(205 ILCS 731/30-10) Sec. 30-10. Additional rulemaking authority. (a) In addition to such powers and rulemaking authority as may be prescribed elsewhere in this Act or other financial laws administered by the Department, the Department is hereby authorized and empowered to adopt …

(205 ILCS 731/30-5) Sec. 30-5. Confidential supervisory information. (a) Confidential supervisory information shall, unless made a matter of public record, not be subject to disclosure under the Freedom of Information Act, and shall only be subject to disclosure pursuant to subpo…

(205 ILCS 731/35-10) Sec. 35-10. Construction; severability. (a) The provisions of this Act shall be liberally construed to effectuate its purposes. (b) The provisions of this Act are severable under Section 1.31 of the Statute on Statutes. (c) To the extent that any provision of…

(205 ILCS 731/35-15) Sec. 35-15. Transition period. (a) A covered person engaging in digital asset business activity without a registration under this Act shall not be considered in violation of Section 15-5 or 5-25 until July 1, 2027. (b) A covered person engaging in digital ass…

(205 ILCS 731/35-5) Sec. 35-5. No evasion. (a) It shall be unlawful to engage in any device, subterfuge, or pretense to willfully evade or attempt to evade the requirements of this Act or any rule or order issued by the Department hereunder. (b) Any financial product, service, or…

(205 ILCS 731/5-10) Sec. 5-10. Custody and protection of customer assets. (a) A covered person that stores, holds, or maintains custody or control of a digital asset for one or more persons shall: (1) at all times maintain an amount of each type of digital asset sufficient to sat…

(205 ILCS 731/5-15) Sec. 5-15. Covered exchanges. (a)(1) Except as provided for under paragraph (2) of this subsection, a covered exchange, before listing or offering a digital asset that the covered exchange can exchange on behalf of a resident, shall certify on a form provided …

(205 ILCS 731/5-20) Sec. 5-20. Customer service; requests for assistance. (a) A covered person shall prominently display on its internet website a toll-free telephone number through which a resident can contact the covered person for requests for assistance and receive live custo…

(205 ILCS 731/5-25) Sec. 5-25. Collection of compensation. Unless exempt from registration under this Act, no person engaged in or offering to engage in any act or service for which a registration under this Act is required may bring or maintain any action in any court to collect…

(205 ILCS 731/5-5) Sec. 5-5. Customer disclosures. (a) When engaging in digital asset business activity with a resident, a covered person shall provide to a resident the customer disclosures required by subsection (b) and any additional disclosures the Department by rule determin…

(205 ILCS 731/99-95) Sec. 99-95. No acceleration or delay. Where this Act makes changes in a statute that is represented in this Act by text that is not yet or no longer in effect (for example, a Section represented by multiple versions), the use of that text does not accelerate …

(205 ILCS 731/99-99) Sec. 99-99. Effective date. This Act takes effect upon becoming law. (Source: P.A. 104-428, eff. 8-18-25.)

(205 ILCS 732/1) Sec. 1. Short title. This Act may be cited as the Digital Asset Kiosks Act. (Source: P.A. 104-429, eff. 8-18-25.)

(205 ILCS 732/10) Sec. 10. Definitions. As used in this Act: "Affiliate" means any person that controls, is controlled by, or is under common control with another person. As used in this paragraph, "control" means the possession, direct or indirect, of the power to direct or caus…

(205 ILCS 732/100) Sec. 100. Rulemaking. (a) The Department may adopt rules to implement the provisions of this Act, including, but not limited to: (1) rules in connection with the activities of digital asset kiosk operators as may be necessary and appropriate for the protection …

(205 ILCS 732/105) Sec. 105. (Repealed). (Source: P.A. 104-429, eff. 8-18-25. Repealed internally, eff. 8-18-25.)

(205 ILCS 732/110) Sec. 110. Evasion. An agreement, contract, or transaction that is structured to evade the scope of this Act shall be deemed to fall within the scope of this Act. (Source: P.A. 104-429, eff. 8-18-25.)

(205 ILCS 732/115) Sec. 115. (Repealed). (Source: P.A. 104-429, eff. 8-18-25. Repealed internally, eff. 8-18-25.)