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Illinois Lawmaker’s Crypto Bill Aims To Tighten Regulations And Address Fraud

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Illinois Lawmaker’s Crypto Bill Aims To Tighten Regulations And Address Fraud - Bitcoinist

Quick Summary:

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.

Moreover, crypto companies must register with the IDFPR, provide disclosures, and prove they can satisfy payouts.

The bill grants the Department significant oversight and enforcement powers, including the ability to investigate, levy fines, and take action against non-compliant businesses.

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Illinois Lawmaker’s Crypto Bill Aims To Tighten Regulations And Address Fraud - Bitcoinist (Picture 1)Illinois Lawmaker’s Crypto Bill Aims To Tighten Regulations And Address Fraud - Bitcoinist (Picture 2)

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Article Details

Author / Journalist: Rubmar Garcia

Category: Crypto

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-04-05 @ 14:00:38 (1 days ago)

News Timezone: GMT +8:00

News Source URL: bitcoinist.com

Language: English

Article Length: 473 words

Reading Time: 3 minutes read

Sentences: 32 lines

Sentence Length: 15 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Bitcoinist

News ID: 27602625

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About Bitcoinist

Bitcoinist Logo

Main Topics: Crypto

Official Website: bitcoinist.com

Update Frequency: 13 posts per day

Year Established: 2014

Headquarters: Hungary

News Last Updated: 9 hours ago

Coverage Areas: Hungary

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #105

Publisher Details

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The story "Illinois Lawmaker’s Crypto Bill Aims To Tighten Regulations And Address Fraud" has 473 words across 32 sentences, which will take approximately 2 - 4 minutes for the average person to read.

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The story "Illinois Lawmaker’s Crypto Bill Aims To Tighten Regulations And Address Fraud" was covered 1 days ago by Bitcoinist, a news publisher based in Hungary.

How trustworthy is 'Bitcoinist' news outlet?

Bitcoinist is a fully independent (privately-owned) news outlet established in 2014 that covers mostly crypto news.

The outlet is headquartered in Hungary and publishes an average of 13 news stories per day.

It's most recent story was published 9 hours ago.

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  • News ID: #27602625
  • URL: https://beamstart.com/news/illinois-lawmakers-crypto-bill-aims-17438628063441

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