New bill in Illinois proposes to make unlicensed digital asset business activities a felony

Alliance DAO, a decentralized autonomous organization created by Web3 startup accelerator DeFi Alliance, tweeted, “Last night in Illinois, a bill (Digital Asset Regulatory Act DARA) proposes to put unlicensed digital asset business activities (i.e. most districts blockchain activity) as a felony. If the House passes the bill, it could become law within weeks.” Among them, the bill includes the effective prohibition of DeFi agreements and core infrastructure (such as block verification), covers the entire industry (NFT, games, transactions, mining, pledges), grants the state broad investigative and enforcement powers, and has impossible compliance Require.