{"id":14844,"date":"2025-08-20T03:58:50","date_gmt":"2025-08-20T03:58:50","guid":{"rendered":"https:\/\/icobench.com\/?p=14844"},"modified":"2025-12-08T07:30:11","modified_gmt":"2025-12-08T07:30:11","slug":"illinois-breaks-from-trump-with-strict-new-crypto-laws","status":"publish","type":"post","link":"https:\/\/icobench.com\/news\/illinois-breaks-from-trump-with-strict-new-crypto-laws\/","title":{"rendered":"Illinois Breaks From Trump With Strict New Crypto Laws"},"content":{"rendered":"<p>While the federal government positions itself as a champion of cryptocurrency adoption, the state of Illinois is taking a very different approach. Governor <strong>JB Pritzker<\/strong> has <a href=\"https:\/\/idfpr.illinois.gov\/news\/2025\/gov-pritzker-signs-historic-legislation-to-protect-consumers-from-cryptocurrency-scams.html\" target=\"_blank\" rel=\"noopener noreferrer\">signed into law two new pieces of legislation<\/a> designed to bring tighter oversight to the crypto industry, citing consumer protection as the top priority.<\/p>\n<p>The move contrasts sharply with the Trump administration\u2019s efforts to transform the United States into the \u201cCrypto Capital of the World.\u201d<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">While Trump lets crypto bros write federal policy, Illinois is implementing common-sense protections for investors and consumers.<\/p>\n<p>Today, I've signed into law first-of-their-kind safeguards in the Midwest for cryptocurrency and other digital assets.<\/p>\n<p>We won't tolerate fraudsters.<\/p>\n<p>\u2014 Governor JB Pritzker (@GovPritzker) <a href=\"https:\/\/twitter.com\/GovPritzker\/status\/1957552880312865153?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener noreferrer\">August 18, 2025<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2><span id=\"two_new_laws_reshape_illinois_crypto_landscape\">Two new laws reshape Illinois\u2019 crypto landscape<\/span><\/h2>\n<p>The first measure, the <strong>Digital Assets and Consumer Protection Act (SB 1797)<\/strong>, grants the state\u2019s <strong>Department of Financial and Professional Regulation<\/strong> sweeping authority over crypto exchanges and businesses operating in Illinois. It covers disclosure of investments, maintaining adequate reserves, and ensuring proper customer service standards.<\/p>\n<p>The second, the <strong>Digital Assets Kiosks Act (SB 2319)<\/strong>, targets crypto ATMs. Operators are now required to register with regulators, provide direct customer support, and strengthen anti-fraud measures. The law also mandates compliance officers for crypto kiosks and introduces consumer safeguards.<\/p>\n<p>Key rules include:<\/p>\n<ul>\n<li><strong>$2,500 daily withdrawal limit<\/strong> for new customers<\/li>\n<li><strong>Transaction fees capped at 18%<\/strong><\/li>\n<li>Required <strong>customer protection agents<\/strong> at registered kiosks<\/li>\n<\/ul>\n<h2><span id=\"a_state_scarred_by_crypto_scams\">A state scarred by crypto scams<\/span><\/h2>\n<p>Illinois\u2019 hardline stance comes after a wave of crypto-related fraud in recent years. In 2024 alone, residents lost more than <strong>$272 million<\/strong> to scams, placing them among the most heavily affected victims nationwide.<\/p>\n<p>For state lawmakers, stricter rules are aimed at curbing this trend and restoring trust in digital assets while prioritizing consumer safety.<\/p>\n<h2><span id=\"pritzker_vs_trump_a_political_clash_over_crypto\">Pritzker vs. Trump: A political clash over crypto<\/span><\/h2>\n<p>In announcing the new laws, Pritzker drew a sharp contrast with <a href=\"https:\/\/icobench.com\/news\/best-crypto-to-buy-now-trump-media-buys-2b-in-bitcoin-as-bitcoin-hyper-presale-surges\/\" rel=\"\">President Trump<\/a>\u2019s pro-crypto policies:<\/p>\n<p><em>\u201cWhile Trump lets crypto bros write federal policy, Illinois is implementing common-sense protections for investors and consumers. We won\u2019t tolerate fraudsters.\u201d<\/em> \u2014 Governor JB Pritzker, Aug. 18, 2025<\/p>\n<p>This stance places Illinois firmly in the camp of states taking a cautious approach to <a href=\"https:\/\/icobench.com\/cryptocurrency\/new-cryptocurrencies\/\" rel=\"\">cryptocurrencies<\/a>, alongside Connecticut, which has banned state-level Bitcoin investments.<\/p>\n<p>Meanwhile, other states are moving in the opposite direction: <strong>Texas<\/strong> is building a strategic Bitcoin reserve, and <strong>Wyoming<\/strong> is launching its own state-backed stablecoin. The patchwork of regulations highlights just how fragmented the U.S. crypto landscape has become.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>While the federal government positions itself as a champion of cryptocurrency adoption, the state of Illinois is taking a&#8230;<\/p>\n","protected":false},"author":175,"featured_media":14845,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[219,218],"tags":[],"class_list":["post-14844","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-altcoins","category-bitcoin","entry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.8.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Illinois Breaks From Trump With Strict New Crypto Laws<\/title>\n<meta name=\"description\" content=\"While the federal government positions itself 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