Illinois Governor Signs Crypto Laws, Slams Donald Trump’s Policy Approach

Pritzker argued that while federal officials were letting "crypto bros" influence national rules, Illinois was putting in place practical protections for residents.

The governor said the state’s goal is to ensure that people are not left vulnerable as the industry grows.

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The first measure, called the Digital Assets and Consumer Protection Act (SB 1797), gives state regulators authority over exchanges and other companies dealing with digital assets.

The law requires these businesses to maintain proper financial reserves, strengthen security systems, and set up safeguards against fraud. Firms must also provide clear information to customers and meet service standards that mirror those in traditional finance.

Pritzker explained that Illinois was acting because federal protections have weakened in recent years, while scams continue to spread. He said the new law makes clear that exploiting residents or putting their savings at risk will not be tolerated.

Alongside that bill, the governor also approved the Digital Asset Kiosk Act (SB 2319). This law focuses on cryptocurrency ATMs and kiosks.

It requires operators to register with state regulators, cap fees at 18%, and set a $2,500 daily limit for new users. Kiosk providers must also refund victims if their machines are used in fraud schemes.

Representative Edgar Gonzalez Jr., who supported the bill, said that residents should expect reliable safeguards no matter what type of financial service they use.

A group of financial technology and crypto companies recently asked President Trump to stop banks from charging fees for sharing customer account information. What did they say? Read the full story.