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Illinois Passes First-of-Its-Kind Crypto Bills, Criticizes Trump Deregulation
Illinois Passes First-of-Its-Kind Crypto Bills, Criticizes Trump Deregulation
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BTCCSquare news:
Illinois has enacted two pioneering bills to address rising crypto risks, marking the Midwest's first major regulatory push. Governor JB Pritzker signed the Digital Assets and Consumer Protection Act (SB1797) and the Digital Asset Kiosk Act (SB2319), introducing stringent oversight for exchanges and ATM operators.
The legislation mandates transparency, financial safeguards, and anti-fraud measures. Crypto kiosks now face an 18% fee cap and $2,500 daily transaction limits, with mandatory scam victim refunds. This contrasts sharply with the Trump-era deregulation approach, signaling a shift toward consumer protection in volatile digital asset markets.
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