New Illinois Bill Would Set Rules, Regulations for Accepting Bitcoin Payments

New Illinois Bill Would Set Rules, Regulations for Accepting Bitcoin Payments

SPRINGFIELD, Ill. – A new bill that passed the Illinois House would allow for a state agency to set up rules and regulations regarding the acceptance of cryptocurrency as a form of payment.

State Rep. Margaret Croke’s legislation allows the Illinois Department of Revenue to set up a plan for accepting digital currency like bitcoin as a form of payment similar to credit cards.

The legislation was passed through the House by a vote of 84-15 and could be taken up by the Senate.

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