Overview
- Governor J.B. Pritzker signed SB 1797 and SB 2319, expanding IDFPR authority over digital asset firms and setting immediate rules for kiosks.
- Kiosk transactions now face daily caps of $2,500 for new customers and $10,500 for existing customers, with fees limited to the greater of $5 or 18% of the transaction.
- Operators must maintain written anti-fraud policies, use blockchain analytics to block suspicious wallets, and provide live customer support during kiosk hours.
- SB 2319 grants refund rights for scam victims, including full refunds for up to three fraudulent transactions for new users when timely reported with a police or government report.
- SB 1797 defers licensing to 2027 while requiring disclosures, outage histories, clear insurance statements, and segregation of customer assets, with penalties up to $100,000 per day for unlicensed activity.