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Illinois Compiled Statutes

Information maintained by the Legislative Reference Bureau
Updating the database of the Illinois Compiled Statutes (ILCS) is an ongoing process. Recent laws may not yet be included in the ILCS database, but they are found on this site as Public Acts soon after they become law. For information concerning the relationship between statutes and Public Acts, refer to the Guide.

Because the statute database is maintained primarily for legislative drafting purposes, statutory changes are sometimes included in the statute database before they take effect. If the source note at the end of a Section of the statutes includes a Public Act that has not yet taken effect, the version of the law that is currently in effect may have already been removed from the database and you should refer to that Public Act to see the changes made to the current law.

(205 ILCS 725/) Blockchain Business Development Act .

205 ILCS 725/1

    (205 ILCS 725/1)
    Sec. 1. Short title. This Act may be cited as the Blockchain Business Development Act.
(Source: P.A. 101-259, eff. 6-1-20.)

205 ILCS 725/5

    (205 ILCS 725/5)
    Sec. 5. Definitions. As used in this Act:
    "Blockchain" means an electronic record created by the use of a decentralized method by multiple parties to verify and store a digital record of transactions which is secured by the use of a cryptographic hash of previous transaction information.
    "Blockchain technology" means computer software or hardware or collections of computer software or hardware, or both, that utilize or enable a blockchain.
(Source: P.A. 101-259, eff. 6-1-20.)

205 ILCS 725/10

    (205 ILCS 725/10)
    Sec. 10. (Repealed).
(Source: P.A. 101-259, eff. 6-1-20. Repealed internally, eff. 1-1-22.)

205 ILCS 725/15

    (205 ILCS 725/15)
    Sec. 15. Blockchain and financial technology promotion. The Department of Commerce and Economic Opportunity shall incorporate into one or more of its economic development marketing and business support programs, events, and activities the following topics:
        (1) opportunities to promote blockchain technology
and financial technology-related economic development in the private sector, including in the areas of banking, insurance, retail and service businesses, and cryptocurrency;
        (2) legal and regulatory mechanisms that enable and
promote the adoption of blockchain technology and financial technology in this State; and
        (3) educational and workforce training
opportunities in blockchain technology, financial technology, and related areas.
(Source: P.A. 101-259, eff. 6-1-20.)