Illinois Governor Signs Law to Shield Crypto Consumers

• Lyla Velez
• August 19, 2025
• Policy
• 0 Comments

Illinois Governor JB Pritzker signed groundbreaking legislation to shield consumers from cryptocurrency scams, enhancing regulatory oversight as of today.

Illinois’ new law may influence national regulatory conversations on digital asset consumer protection. Immediate state-level compliance is expected.

Background

The Digital Assets and Consumer Protection Act and Digital Asset Kiosk Act were signed by Governor JB Pritzker to strengthen digital asset regulations in Illinois. These laws create new consumer protections suite to prevent crypto scams.

“While the Trump Administration is letting crypto bros write federal policy, Illinois is implementing common-sense protections for investors and consumers. At a time when fraudsters continue to evolve and consumer protections are being eroded at the federal level, Illinois is sending a clear message that we won’t tolerate taking advantage of our people and their hard-earned assets.” – Governor JB Pritzker, source

Regulations include mandatory registration for exchanges and kiosk operators with the IDFPR. Compliance deadlines could alter business operations across the state’s digital assets industry.

Impact and Reactions

Key crypto assets like Bitcoin and Ethereum, prevalent in kiosks and exchanges, may see shifts in transaction trends due to increased scrutiny.

Effective immediately, refunds for scam victims and tighter kiosk rules, such as capping fees at 18%, are required. The law excludes new state investments in crypto.

Market reactions remain speculative. Past precedents from New York’s BitLicense suggest possible operational shifts for affected entities. For further insight into these changes, refer to the official news release. Future adaptations may follow as businesses comply with Illinois’ enhanced regulations.