DIGITAL ASSETS REGULATION ACT Senate SponsorsSen. Laura Ellman, David Koehler, Lakesia Collins, Doris Turner, Karina Villa, Laura Fine-Suzy Glowiak Hilton, Elgie R. Sims, Jr., Rachel Ventura-Ann Gillespie-Bill Cunningham, Robert Peters, Mike Porfirio, Robert F. Martwick, Mary Edly-Allen and Adriane Johnson 1/7/2025SenateSession Sine Die New Act5 ILCS 140/7.530 ILCS 105/5.1015 new205 ILCS 5/2from Ch. 17, par. 302205 ILCS 5/30from Ch. 17, par. 337205 ILCS 620/1-5.08from Ch. 17, par. 1551-5.08205 ILCS 620/2-1from Ch. 17, par. 1552-1205 ILCS 620/Art. IIA heading new205 ILCS 620/2A-1 new205 ILCS 620/2A-2 new205 ILCS 620/2A-3 new205 ILCS 620/2A-4 new205 ILCS 620/4-1from Ch. 17, par. 1554-1205 ILCS 620/4-2from Ch. 17, par. 1554-2205 ILCS 620/4-5from Ch. 17, par. 1554-5205 ILCS 620/4A-15205 ILCS 620/5-1from Ch. 17, par. 1555-1815 ILCS 505/2EEEE newCreates the Digital Assets Regulation Act. Provides that the Department of Financial and Professional Regulation shall regulate digital asset business activity in the State. Sets forth provisions concerning: applicability; the powers and duties of the Department; funds; customer protections; custody and protection of customer assets; covered exchanges; compliance; registration; supervision; records; additional procedural provisions; confidentiality; violations; enforcement; rulemaking authority; and severability. Creates the Special Purpose Trust Company Article in the Corporate Fiduciary Act. Sets forth provisions concerning certificates of authority; rulemaking and organization; certificates of authority for foreign corporate fiduciaries; eligibility; fees; and certificates of reciprocity. Makes other changes to various Acts. Effective immediately. 2/9/2024SenateFiled with Secretary by Sen. Laura Ellman 2/9/2024SenateFirst Reading 2/9/2024SenateReferred to Assignments 3/5/2024SenateAssigned to Executive 3/7/2024SenateAdded as Co-Sponsor Sen. David Koehler 3/7/2024SenateAdded as Co-Sponsor Sen. Lakesia Collins 3/7/2024SenateAdded as Co-Sponsor Sen. Doris Turner 3/7/2024SenateAdded as Co-Sponsor Sen. Karina Villa 3/7/2024SenateAdded as Co-Sponsor Sen. Laura Fine 3/7/2024SenateAdded as Chief Co-Sponsor Sen. Suzy Glowiak Hilton 3/7/2024SenateAdded as Co-Sponsor Sen. Elgie R. Sims, Jr. 3/7/2024SenateAdded as Co-Sponsor Sen. Rachel Ventura 3/8/2024SenateAdded as Chief Co-Sponsor Sen. Ann Gillespie 3/8/2024SenateAdded as Chief Co-Sponsor Sen. Bill Cunningham 3/11/2024SenateAdded as Co-Sponsor Sen. Robert Peters 3/12/2024SenateAdded as Co-Sponsor Sen. Mike Porfirio 3/12/2024SenateAdded as Co-Sponsor Sen. Michael E. Hastings 3/12/2024SenateAdded as Co-Sponsor Sen. Robert F. Martwick 3/12/2024SenateAdded as Co-Sponsor Sen. Mary Edly-Allen 3/12/2024SenateAdded as Co-Sponsor Sen. Adriane Johnson 3/13/2024SenateSponsor Removed Sen. Michael E. Hastings 3/15/2024SenateRule 2-10 Committee Deadline Established As April 5, 2024 4/5/2024SenateRule 2-10 Committee Deadline Established As April 19, 2024 4/10/2024SenatePostponed - Executive 4/12/2024SenateRule 2-10 Third Reading Deadline Established As May 3, 2024 4/19/2024SenateRule 2-10 Committee Deadline Established As May 3, 2024 5/3/2024SenateRule 3-9(a) / Re-referred to Assignments 1/7/2025SenateSession Sine Die