Overview

• Governor J.B. Pritzker on Monday signed the Digital Assets and Consumer Protection Act (SB1797) and the Digital Asset Kiosk Act (SB2319), which outlets describe as the first comprehensive crypto consumer protections in the Midwest.
• Under SB2319, crypto ATM operators must register with the state, cap fees at 18%, limit daily transactions for new customers to $2,500, and issue full refunds to new customers who are scammed, with refund protections taking effect immediately.
• SB1797 authorizes the Illinois Department of Financial and Professional Regulation to supervise digital-asset businesses, require cybersecurity and anti-fraud safeguards, and phase in registration and compliance through July 1, 2027.
• State officials cited widespread kiosk misuse and FBI data showing Illinois residents lost $272 million to crypto-related fraud in 2024.
• Pritzker contrasted Illinois’ approach with federal policy under President Trump, a framing that drew public criticism from Coinbase executives.