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“It's happening too often where there's some scam or collapse that's hurting consumers directly in their pocketbooks,” DeCarlo said in a CryptoX interview. The state needs "safeguards in place soon so we can get in front of those," he said, plus a way to give the latest financial innovations some
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A recently introduced Illinois Senate Bill has been ridiculed by the crypto community over its "unworkable" plans to force blockchain miners and validators to do "impossible things" — such as reversing transactions if ordered to do so by a state court.The Senate Bill was quietly introduced into the Illinois legislature
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But to qualify for the Illinois tax incentive, existing and new enterprises looking to make use of the incentive must first make an investment of no less than $250 million in the state and create at least 20 full-time jobs. Within two years of qualifying, enterprises must also certify they
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The University of Illinois at Urbana-Champaign (UIUC) offers a variety of blockchain-related courses for students. The career prospects and awards that its students enjoy in the field reflect the thorough education they receive. table { border-collapse: collapse; width: 100%; } tr{ border: 1pt solid black; } td{ padding:5px;
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A new bill draft proposed by the Illinois State legislature adds “virtual currencies” to a list of assets that can be considered abandoned. The bill was first introduced on Feb. 20, and was sent to the House Revenue & Finance Committee on March 12.The draft amends some aspects of
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With the new year Illinois became the latest state to recognize smart contracts and other blockchain-based records as legal instruments.The state’s “Blockchain Technology Act,” sponsored by Rep. Keith Wheeler (R), took effect Jan. 1, opening a slew of potential new legal scenarios for blockchain-based contracts. These contracts are now admissible
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With the gain of 65% since May, the Illinois resident who spent half of his lottery winnings on Bitcoin had to pay $143,000 in taxes to the state.Earlier this year, a man from the state of Illinois made a killing, winning $500,000 in a state lottery. Recently, he revealed that
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