Bill Status of HB5303

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HB5303 - 104th General Assembly

DIGITAL ASSETS-VARIOUS
Last Action
3/04/2026 - House: Assigned to Financial Institutions and Licensing Committee
House Sponsors
Rep. Natalie A. Manley
Hearings
Financial Institutions and Licensing Committee Hearing Mar 18 2026 5:00PM Capitol Building Room 122 Springfield, IL
Statutes Amended In Order of Appearance
205 ILCS 731/1-5
205 ILCS 731/1-10
205 ILCS 731/15-10
205 ILCS 731/15-15
205 ILCS 731/20-25
205 ILCS 731/20-45
205 ILCS 731/35-15
Synopsis As Introduced
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.
Actions
Date Chamber Action
2/05/2026 House Filed with the Clerk by Rep. Natalie A. Manley
2/10/2026 House First Reading
2/10/2026 House Referred to Rules Committee
3/04/2026 House Assigned to Financial Institutions and Licensing Committee