Illinois limits fees at crypto ATMs and tightens oversight of exchanges

The state has become the first in the Midwest to introduce strict rules for crypto exchanges and ATMs

Illinois signs laws regulating cryptocurrencies and protecting consumers

19.08.2025 - 10:05

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2 min

What’s new? Illinois Governor J.B. Pritzker has signed two laws regulating cryptocurrencies. The documents strengthen oversight of exchanges and ATMs and introduce fee limits.

What new rules have come into force? The Digital Assets and Consumer Protection Act (SB 1797) gives the Department of Financial and Professional Regulation the authority to supervise crypto companies. Exchanges are required to have sufficient reserves, implement cybersecurity, combat fraud, and ensure disclosure of information at the level of traditional banks.

The second law (SB 2319) concerns crypto ATMs. Operators are required to register with government agencies, appoint compliance and consumer protection officers, and limit fees to 18%. A daily limit of $2500 has been set for new users.

“Today, I’ve signed into law first-of-their-kind safeguards in the Midwest for cryptocurrency and other digital assets.”

Source x.com

According to the FBI, Illinois residents lost $272 million to crypto fraud in 2024. This ranks fifth among all US states.

Cryptocurrency policy has become a subject of controversy following the Republican victory in the elections. Texas, which will be the first state in the United States to create a bitcoin reserve, and Arizona support the industry, while Illinois has taken a more cautious stance, strengthening consumer and investor protection.

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