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Rep. Margaret Croke
Filed: 4/15/2021
| | 10200HB3968ham001 | | LRB102 13385 BMS 25361 a |
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| 1 | | AMENDMENT TO HOUSE BILL 3968
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| 2 | | AMENDMENT NO. ______. Amend House Bill 3968 on page 24, by |
| 3 | | replacing lines 17 through 22 with the following:
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| 4 | | "(205 ILCS 725/11 new) |
| 5 | | Sec. 11. Digital asset custody rules. |
| 6 | | (a) As used in this Section, "digital asset" means a |
| 7 | | representation of economic, proprietary, or access rights that |
| 8 | | is stored in a computer readable format. |
| 9 | | (b) The Department of Financial and Professional |
| 10 | | Regulation, in addition to the authority provided under any |
| 11 | | other law, shall have authority to adopt rules, opinions, or |
| 12 | | interpretive letters regarding the provision of custodial |
| 13 | | services for digital assets by banks chartered under the |
| 14 | | Illinois Banking Act, savings banks chartered under the |
| 15 | | Savings Bank Act, and corporate fiduciaries authorized under |
| 16 | | Article II or IIA of the Corporate Fiduciary Act.".
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