Illinois Governor JB Pritzker took a decisive stance on cryptocurrency regulation by signing two bills into law on August 18, 2025.
These landmark laws—the Digital Assets and Consumer Protection Act (SB 1797) and the Digital Asset Kiosk Act (SB 2319), establish robust consumer safeguards and regulatory oversight in Illinois, marking a significant contrast with the federal government’s deregulatory approach under President Donald Trump.
While Trump lets crypto bros write federal policy, Illinois is implementing common-sense protections for investors and consumers.
Today, I’ve signed into law first-of-their-kind safeguards in the Midwest for cryptocurrency and other digital assets.
We won’t tolerate fraudsters.
— Governor JB Pritzker (@GovPritzker) August 18, 2025
Governor Pritzker openly criticized the Trump administration’s leniency toward crypto, stating, “While the Trump Administration is letting crypto bros write federal policy, Illinois is implementing common-sense protections for investors and consumers.” The federal rollback notably included overturning IRS rules that expanded broker definitions to decentralized exchanges, a move Illinois officials warn leaves consumers more vulnerable to fraud.
The Digital Assets and Consumer Protection Act empowers the Illinois Department of Financial and Professional Regulation (IDFPR) to oversee digital asset exchanges and related businesses. Entities must maintain financial resources, enforce cybersecurity, disclose investment risks, and uphold customer service standards consistent with traditional finance regulations.
Complementing this, the Digital Asset Kiosk Act targets cryptocurrency ATMs by imposing registration requirements, capping transaction fees at 18%, limiting daily transactions to $2,500 for new users, and obligating operators to refund victims of fraud. This legislation responds to alarming statistics—Illinois residents lost $272 million to crypto fraud in 2024, ranking fifth nationally for losses according to the FBI.
These actions position Illinois as a pioneer in Midwest crypto regulation, balancing innovation with investor protections against scams and financial risks. The bills will take effect immediately, with digital asset operators required to register with state regulators by January 1, 2027.
While Illinois rejected a separate bill proposing a Bitcoin reserve fund for the state treasury, these laws reflect a clear priority: safeguarding consumer assets amid an evolving and often risky crypto landscape.
Meanwhile, Meta struck a 20-year deal with Constellation for 1.1 gigawatts of power from the Clinton Clean Energy Center in southern Illinois. Starting in 2027, this nuclear power will fuel Meta’s AI and data center operations, including Facebook and Instagram.
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