The Senate in Illinois acknowledged a vote from 39 to 17 regulatory bill aimed at curbing the cryptocurrency and protecting investors from deceptive practices, including rug and misleading fees.
On April 10, the Chamber approved the Senate Bill 1797 (SB1797), also known as the Digital Asset and Consumer Protection Law, which was presented by Senator Mark Walker in February.
The draft law grants the Financial and Vocational Organization Authority in Illinois to oversee the activity of digital assets within the state.
under legislationAny entity that participates in the work of digital assets with the residents of Illinois should be registered with the state’s financial organization. The draft law also requires CRYPTO service providers to provide a pre -detection of user and fees.
Bell SB1797. source: Ilga.gov
“No person may engage in the activity of digital assets, or keeps himself as being able to engage in the activity of digital assets, with or on behalf of one of the residents unless the person in this state is registered under this article (…),” says the bill. “
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Walker has already highlighted the need to treat fraud in coding in Illinois. On April 4 x mailSteps:
“The rise of digital assets has opened the door to financial opportunities, but also for bankruptcy, fraud and deceptive practices. We must set standards for those who have evolved in encryption work to ensure that they are reliable and honest actresses.”
Illinois pushing for the most powerful supervision follows a wave of prominent collapses in the mechanics and the fraud that leads it from the inside, which left the retail investors with great losses.
In March, the New York Bell A06515 presented, with the aim of establishing criminal penalties to prevent fraud in the encrypted currency and protect investors from carpets.
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One of the most famous cases recently was the collapse of the scale icon, and according to what was reported, the Argentine president, who was approved by Argentine President Javier Millie. In March, it is claimed that those familiar with the project withdrew more than $ 107 million of liquidity, causing a 94 % collapse and wiping nearly $ 4 billion of market value.
The scale icon is destroyed. source: Copsy message
Anastasja Plutnikova, co -founder and executive director of Blockchain, should see the interior fraud and “direct fraudulent activities” such as rug withdrawal, which “is not only unethical but clearly illegal, with judicial precedents to support implementation.”
“In my opinion, these activities must firmly fall within the jurisdiction of law enforcement agencies.”
The last collapse took place on March 16, after Hayden Davis, the participating institution for Melaga (Melania) and the scale symbol, launched a wolf from the distinctive symbol inspired by Wall Street (wolf).
source: bubblemaps
More than 82 % of the distinctive symbol supplies were kept by the same entity, which led to the collapse of the price of 99 % after the symbolic code of market value of $ 42 million.
Argentine lawyer Gregorio Dalbon asked for a red notice for Davis, citing a “procedural danger” if Davis will remain free because he can reach huge sums of money that would allow him to either flee or hide from the United States.
https://www.youtube.com/watch?
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