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HB 5303

Illinois House of Representatives bill in Session 104.

Status: in_committee. Latest action: March 27, 2026.

DIGITAL ASSETS-VARIOUS.

Bill ID IL-104-HB-5303
Session 104
Status in_committee
Committee Rules Committee
House of Representatives in_committee 2026-03-27
Business / Commerce Insurance / Consumer Protection
Summary

Amends the Digital Assets and Consumer Protection Act. Makes changes to defined terms. Provides that the Act does not apply to a person whose digital financial asset business activity with, or on behalf of, residents is reasonably expected to be valued, in the aggregate, on an annual basis at $5,000,000 or less, measured by the United States dollar equivalent of digital financial assets. Requires the Department of Financial and Professional Regulation to approve, conditionally approve, or deny any license application within 120 days after receipt of a completed application. Replaces provisions concerning renewal applications with annual reporting requirement provisions. Provides that the transition period under which covered persons and covered exchanges are not considered in violation of certain provisions ends January 1, 2028 (instead of January 1, 2027). Provides that rules adopted under the Act do not take effect earlier than January 1, 2027 (instead of January 1, 2026). Effective immediately.

Sponsor
Natalie A. Manley
Official Source Back to Bills
Actions Timeline
Date Event Detail
2026-02-10 Introduced Bill introduced
2026-03-27 Status in_committee
2026-03-27 Latest Action 3/27/2026 - House:
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Minnesota • 2026 Regular • unknown