{"id":11576,"date":"2025-09-24T18:07:22","date_gmt":"2025-09-24T18:07:22","guid":{"rendered":"https:\/\/cryptonewsdesk.com\/?p=11576"},"modified":"2025-09-24T18:07:31","modified_gmt":"2025-09-24T18:07:31","slug":"illinois-governor-pritzker-criticizes-trump-over-crypto-policy-signs-two-new-consumer-protection-bills","status":"publish","type":"post","link":"https:\/\/cryptonewsdesk.com\/index.php\/2025\/09\/24\/illinois-governor-pritzker-criticizes-trump-over-crypto-policy-signs-two-new-consumer-protection-bills\/","title":{"rendered":"Illinois Governor Pritzker Criticizes Trump Over Crypto Policy, Signs Two New Consumer Protection Bills"},"content":{"rendered":"\n<p>Illinois Governor <strong>J.B. Pritzker<\/strong> has signed two new bills aimed at protecting crypto consumers, marking the first such measures in the Midwest. But while celebrating the milestone, Pritzker also took aim at President Donald Trump, accusing him of letting \u201ccrypto bros\u201d shape national policy.<\/p>\n\n\n\n<p>\u201cWhile Trump lets crypto bros write federal policy, Illinois is implementing common-sense protections for investors and consumers,\u201d Pritzker said in a statement. \u201cToday, I\u2019ve signed into law first-of-their-kind safeguards in the Midwest for cryptocurrency and other digital assets.\u201d<\/p>\n\n\n\n<p>The comments come just months after Trump signed a controversial federal bill in April overturning an IRS rule that would have treated decentralized exchanges as brokers a move critics say stripped away investor protections.<\/p>\n\n\n\n<p>Illinois officials pointed to this as evidence that the administration is <strong>\u201cactively deregulating the crypto industry at a time when consumers are increasingly at risk of fraud.\u201d<\/strong> According to FBI records, Illinois ranks fifth among U.S. states for crypto fraud losses, with residents losing about <strong>$272 million in 2024 alone<\/strong>.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">What Do the Two New Crypto Bills Do?<\/h3>\n\n\n\n<p>The newly enacted measures are designed to bring regulatory clarity and consumer safeguards into Illinois\u2019 growing crypto market:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>SB1797 The Digital Assets and Consumer Protection Act<\/strong>\n<ul class=\"wp-block-list\">\n<li>Grants the <strong>Illinois Department of Financial and Professional Regulation (IDFPR)<\/strong> authority to oversee crypto exchanges and related businesses.<\/li>\n\n\n\n<li>Requires crypto companies to disclose full fee structures, clarify whether assets are insured, and inform users about key risks including potential loss of access to funds.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>SB2319 The Digital Asset Kiosk Act<\/strong>\n<ul class=\"wp-block-list\">\n<li>Regulates crypto ATM (kiosk) operators.<\/li>\n\n\n\n<li>Requires operators to <strong>register with IDFPR<\/strong>.<\/li>\n\n\n\n<li>Mandates <strong>full refunds<\/strong> to new customers who fall victim to scams at kiosks.<\/li>\n\n\n\n<li>Caps transaction fees at <strong>18%<\/strong> and limits daily transactions to <strong>$2,500 for new customers<\/strong>.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<p>Together, the bills establish one of the strictest frameworks for consumer protection in the U.S. crypto space.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Illinois and Crypto: A Mixed Record<\/h3>\n\n\n\n<p>While Illinois is positioning itself as a consumer-focused regulator, it has not always embraced pro-crypto policies. Earlier this year, lawmakers <strong>rejected a proposal to create a state-level Bitcoin reserve<\/strong>.<\/p>\n\n\n\n<p>The bill, <strong>House Bill 1844<\/strong>, introduced by Rep. John Cabello, would have allowed the state treasury to buy and hold Bitcoin for at least five years while also letting residents donate BTC to a state fund. The proposal failed to advance past the committee stage.<\/p>\n\n\n\n<p>This contrast underscores Illinois\u2019 cautious approach: while it isn\u2019t positioning itself as a crypto-friendly hub, it is taking <strong>strong action to protect investors and regulate industry practices<\/strong>.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Outlook<\/h3>\n\n\n\n<p>Illinois\u2019 move sets a precedent for other Democratic-led states that may also seek to tighten consumer protections in the crypto sector. With fraud losses mounting and political divides over regulation deepening, the state\u2019s approach highlights the <strong>growing tension between federal deregulation and state-level oversight<\/strong>.<\/p>\n\n\n\n<p>For now, Illinois residents will benefit from new safeguards around exchanges and crypto kiosks even as the national debate over who should set the rules for digital assets continues.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Illinois Governor J.B. Pritzker has signed two new bills aimed at protecting crypto consumers, marking the first such measures in the Midwest. But while celebrating the milestone, Pritzker also took aim at President Donald Trump, accusing him of letting \u201ccrypto bros\u201d shape national policy. \u201cWhile Trump lets crypto bros write federal policy, Illinois is implementing&#8230;<\/p>\n","protected":false},"author":3,"featured_media":11579,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[63,70],"tags":[1580,65,1724],"class_list":["post-11576","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-finance","tag-atms","tag-crypto","tag-illinois"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Illinois Governor Pritzker Criticizes Trump Over Crypto Policy, Signs Two New Consumer Protection Bills - Crypto News<\/title>\n<meta name=\"description\" content=\"Illinois Gov. 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