Illinois Releases Digital Currency Regulatory Guidelines

The Illinois Department of Financial and Professional Regulation has issued a 9-page report expressing its interpretation of how the Illinois’ Transmitters of Money Act (TOMA) applies to digital currencies. Most notably, the Department declined to classify cryptocurrency as money and decided that most digital currency transactions fall outside of the purview of TOMA unless they involve a third-party intermediary... more

#DigitalCurrency #Cryptocurrency #Regulation #Guidelines #Illinois

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