205 ILCS 731/ Digital Assets and Consumer Protection Act.

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FINANCIAL REGULATION - (205 ILCS 731/) Digital Assets and Consumer Protection Act.

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    (205 ILCS 731/Art. 35 heading)
Article 35. Miscellaneous Provisions
(Source: P.A. 104-428, eff. 8-18-25.)

    (205 ILCS 731/35-5)
    Sec. 35-5. No evasion.
    (a) It shall be unlawful to engage in any device, subterfuge, or pretense to willfully evade or attempt to evade the requirements of this Act or any rule or order issued by the Department hereunder.
    (b) Any financial product, service, or transaction that is willfully structured to evade or attempt to evade the definitions of digital asset or digital asset business activity is a digital asset or digital asset business activity, respectively, for purposes of this Act.
(Source: P.A. 104-428, eff. 8-18-25.)

    (205 ILCS 731/35-10)
    Sec. 35-10. Construction; severability.
    (a) The provisions of this Act shall be liberally construed to effectuate its purposes.
    (b) The provisions of this Act are severable under Section 1.31 of the Statute on Statutes.
    (c) To the extent that any provision of this Act is preempted by federal law, the provision shall not apply and shall not be enforced solely as to the extent of the preemption and not as to other circumstances, persons, or applications.
(Source: P.A. 104-428, eff. 8-18-25.)

    (205 ILCS 731/35-15)
    Sec. 35-15. Transition period.
    (a) A covered person engaging in digital asset business activity without a registration under this Act shall not be considered in violation of Section 15-5 or 5-25 until July 1, 2027.
    (b) A covered person engaging in digital asset business activity shall not be considered in violation of Sections 5-5, 5-10, and 5-20 until January 1, 2027.
    (c) A covered exchange shall not be considered in violation of Section 5-15 until January 1, 2027.
    (d) Notwithstanding the foregoing, the Department may adopt rules pursuant to this Act upon this Act becoming law with such rules not to take effect earlier than January 1, 2026.".
(Source: P.A. 104-428, eff. 8-18-25.)