|10100HB2540sam001||- 2 -||LRB101 06907 RJF 60058 a|
(a) The Department of Financial and Professional
Regulation shall review the potential application of
blockchain technology to the provision of banking, and consider
areas for potential adoption and any necessary regulatory
changes in Illinois.
(b) On or before January 1, 2021, the Department shall
submit a report of its findings and recommendations to the
Governor and General Assembly.
(c) This Section is repealed January 1, 2022.
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
(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