Illinois Enacts New Digital Asset Regulations to Enhance Consumer Protection

According to PANews, the Governor of Illinois has signed the Digital Assets and Consumer Protection Act along with the Digital Assets Self-Service Terminal Act. These new laws mandate that cryptocurrency exchanges comply with state regulations, implement anti-fraud and cybersecurity measures, and establish guidelines for ATM operators. The regulations include requirements for registration, fraud refunds, an 18% cap on transaction fees, and a daily limit of $2,500 for new users. The Governor criticized the federal government's relaxed approach to cryptocurrency regulation under U.S. President Donald Trump. In 2024, Illinois reported cryptocurrency fraud losses amounting to $272 million.