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Creates the Digital Assets and Consumer Protection Act. Provides that the Department of Financial and Professional Regulation shall regulate digital asset business activity in the State. Sets forth provisions concerning: applicability; the powers and duties of the Department; funds; customer protections; custody and protection of customer assets; covered exchanges; compliance; registration; supervision; records; additional procedural provisions; confidentiality; violations; enforcement; rulemaking authority; and severability. Creates the Special Purpose Trust Company Article in the Corporate Fiduciary Act. Sets forth provisions concerning certificates of authority; rulemaking and organization; certificates of authority for foreign corporate fiduciaries; eligibility; fees; and certificates of reciprocity. Makes other changes to various Acts. Effective immediately.
Introduced
Apr 10, 2025
Last Action
Aug 18, 2025
Session
IL 104th
Sponsors
2 primary · 15 co
Governor Approved
Effective Date August 18, 2025
Public Act . . . . . . . . . 104-0428
Sent to the Governor
Passed Both Houses
Senate Concurs
House Committee Amendment No. 1 Senate Concurs 041-015-000
3/5 Vote Required
House Committee Amendment No. 1 Motion to Concur Filed with Secretary Sen. Mark L. Walker
House Committee Amendment No. 1 Motion To Concur Recommended Do Adopt Executive; 009-004-000
House Committee Amendment No. 1 Motion to Concur Assignments Referred to Executive
House Committee Amendment No. 1 Motion to Concur Referred to Assignments
Placed on Calendar Order of 3rd Reading - Short Debate
Placed on Calendar Order of Concurrence House Amendment(s) 1 - May 30, 2025
Secretary's Desk - Concurrence House Amendment(s) 1
Third Reading - Short Debate - Passed 076-038-001
Added Alternate Co-Sponsor Rep. Camille Y. Lilly
House Committee Amendment No. 1 Adopted in Financial Institutions and Licensing Committee; by Voice Vote
Held on Calendar Order of Second Reading - Short Debate
Second Reading - Short Debate
Placed on Calendar 2nd Reading - Short Debate
Do Pass as Amended / Short Debate Financial Institutions and Licensing Committee; 007-004-000
House Committee Amendment No. 1 Rules Refers to Financial Institutions and Licensing Committee
House Committee Amendment No. 1 Referred to Rules Committee
Motion to Suspend Rule 21 - Prevailed 075-039-000
Motion Filed to Suspend Rule 21 Financial Institutions and Licensing Committee; Rep. Bob Morgan
House Committee Amendment No. 1 Filed with Clerk by Rep. Edgar González, Jr.
Assigned to Financial Institutions and Licensing Committee
Committee/Final Action Deadline Extended-9(b) May 31, 2025
Rule 19(a) / Re-referred to Rules Committee
Assigned to Financial Institutions and Licensing Committee
Referred to Rules Committee
First Reading
Added as Co-Sponsor Sen. Mike Simmons
Added as Co-Sponsor Sen. Mary Edly-Allen
Added as Co-Sponsor Sen. Adriane Johnson
Recalled to Second Reading
Senate Floor Amendment No. 2 Adopted; Walker
Placed on Calendar Order of 3rd Reading
Third Reading - Passed; 039-017-000
Arrived in House
Chief House Sponsor Rep. Edgar González, Jr.
Added as Co-Sponsor Sen. Paul Faraci
Senate Floor Amendment No. 2 Recommend Do Adopt Executive; 009-004-000
Added as Co-Sponsor Sen. Robert Peters
Added as Co-Sponsor Sen. Michael E. Hastings
Sponsor Removed Sen. Michael W. Halpin
Added as Co-Sponsor Sen. Javier L. Cervantes
Added as Co-Sponsor Sen. Christopher Belt
Second Reading
Placed on Calendar Order of 3rd Reading April 9, 2025
Senate Floor Amendment No. 2 Assignments Refers to Executive
Added as Chief Co-Sponsor Sen. Cristina Castro
Senate Floor Amendment No. 2 Referred to Assignments
Senate Floor Amendment No. 2 Filed with Secretary by Sen. Mark L. Walker
Added as Chief Co-Sponsor Sen. Laura Ellman
Added as Chief Co-Sponsor Sen. Graciela Guzmán
Senate Committee Amendment No. 1 Adopted
Placed on Calendar Order of 2nd Reading April 4, 2025
Do Pass as Amended Executive; 008-004-000
Rule 2-10 Committee Deadline Established As April 4, 2025
Added as Co-Sponsor Sen. Mike Porfirio
Added as Co-Sponsor Sen. Rachel Ventura
Added as Co-Sponsor Sen. Karina Villa
Senate Committee Amendment No. 1 Assignments Refers to Executive
Senate Committee Amendment No. 1 Filed with Secretary by Sen. Mark L. Walker
Senate Committee Amendment No. 1 Referred to Assignments
Assigned to Executive
First Reading
Referred to Assignments
Filed with Secretary by Sen. Mark L. Walker
Get a plain-English explanation of what this bill does, who it affects, and why it matters.
Public Act . . . . . . . . . 104-0428
Edgar González, Jr.
Mark L. Walker
Mike Simmons
Camille Y. Lilly
Javier L. Cervantes
Michael E. Hastings