The Illinois Department of Financial and Professional Regulation (IDFPR) announced today that Director of Financial Institutions, Francisco Menchaca; Director of Professional Regulation, Jessica Baer; and Director of Real Estate, Kreg Allison, signed the following enforcement actions taken during the month of February 2017.
The Illinois Department of Financial and Professional Regulation hosted two fintech roundtables last week co-hosted by the Conference of State Bank Supervisors, FinTEx Chicago and 1871. The following is a statement by Bryan A. Schneider, Secretary of the Illinois Department of Financial and Professional Regulation.
Secretary Bryan A. Schneider with the Illinois Department of Financial and Professional Regulation (“IDFPR”) has announced the release for comment of the Department's proposed “Digital Currency Regulatory Guidance” on decentralized digital currencies, such as Bitcoin, Dogecoin, Litecoin, Ethereum, and Zcash. The proposed guidance expresses the IDFPR’s interpretation of Illinois’ Transmitters of Money Act (“TOMA”) and the application of its interpretation to various activities involving digital currencies.