Illinois Governor J.B. Pritzker has signed two significant bills aimed at enhancing consumer protections for cryptocurrency users in the state, making it the first in the Midwest to do so. The Digital Assets and Consumer Protection Act (SB1797) and the Digital Asset Kiosk Act (SB2319) were enacted in response to rising fraud in the crypto market, where Illinois residents reportedly lost over $272 million to scams in 2024 alone. The new laws empower state regulators to oversee crypto exchanges and installments at ATMs, mandating security protocols and consumer service standards, as well as capping transaction fees at 18%. Additionally, these measures require ATM operators to issue refunds to victims of scams. Illinois currently has around 1,482 crypto ATMs. The governor criticized federal oversight under the Trump administration, noting that these initiatives are crucial for protecting consumers in a largely unregulated market.

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