Industry opinions Illinois’s Digitial Currency Guidance – Bitcoints


Published on January 20th, 2017 | by bitcoin


Industry opinions Illinois’s Digitial Currency Guidance

A planned approach to regulating digital currencies is winning praise from industry participants, public documents reveal.
Elsewhere, the state said that digital currencies wouldn’t be considered ‘money’ under the state’s Transmitters of Money Act, or TOMA.
Suggested changes
Other commenters suggested that Illinois think deeper on some of the issues that its guidance raises.
For example, Chamber of Digital Commerce president Perianne Boring wrote that the state should consider relaxing application requirements for Illinois-based startups looking to break into the digital currency space.
Philip Fornaro, principal attorney for Illinois legal firm Fornaro Law, suggested that the state consider other solutions for regulating the industry instead of TOMA.


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