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IL HB5886
Bill
Status
Failed
12/3/2014
Primary Sponsor
Elizabeth Hernandez
Click for details
AI Summary
- Amends the Transmitters of Money Act by adding Section 110 regarding virtual currency
- Establishes that virtual currency does not have legal tender status in Illinois
- Defines "virtual currency" as a medium of exchange that operates like currency in some environments but lacks all attributes of real currency
- Takes effect immediately upon becoming law
Legislative Description
VIRTUAL CURRENCY
Last Action
Session Sine Die
12/3/2014
Committee Referrals
Rules3/28/2014
Financial Institutions3/6/2014
Rules2/14/2014
Full Bill Text
No bill text available