Illinois Enacts Strict Crypto Regulations, Diverging from Federal Pro-Business Stance

Governor JB Pritzker has signed two landmark bills imposing rigorous oversight on cryptocurrency operations in Illinois, marking a sharp contrast with the Trump administration's push for nationwide crypto adoption. The Digital Asset Consumer Protection Act empowers state regulators with unprecedented authority over exchanges, mandating transparency in investments, reserve requirements, and customer service standards.

A second law targets crypto ATMs with strict operational rules: mandatory registration, 18% fee caps, and $2,500 daily withdrawal limits for new users. "We won't tolerate fraudsters," Pritzker declared on social media, positioning Illinois as a Midwest leader in consumer safeguards. The move creates regulatory tension as federal policymakers court crypto firms with business-friendly proposals.