Illinois Governor Slams Trump’s Crypto Backers While Signing New Rules

Illinois on Monday approved two new laws that give state regulators stronger tools to police crypto businesses and curb scams at cash-to-crypto kiosks.

The governor used the moment to criticize US President Donald Trump for recent federal moves that, according to his office, loosen protections for consumers.

State Gives Regulator New Powers

SB 1797 hands the Illinois Department of Financial and Professional Regulation authority to supervise digital-asset exchanges and related firms.

“While the Trump Administration is letting crypto bros write federal policy, Illinois is implementing common-sense protections for investors and consumers,” Governor JB Pritzker said.

While Trump lets crypto bros write federal policy, Illinois is implementing common-sense protections for investors and consumers.

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

We won’t tolerate fraudsters.

— Governor JB Pritzker (@GovPritzker) August 18, 2025

According to lawmakers, the measure forces companies to hold enough money, put up cybersecurity and anti-fraud systems, make clear investment disclosures, and meet customer service standards similar to other financial services.

The bill passed the state Senate in April and will make it clearer who answers to state rules and who does not.

Kiosk Rules Aim To Curb Scams

The second law, SB 2319, targets cryptocurrency kiosks and ATMs. Reports have disclosed several concrete limits: operators must register with regulators, kiosks must offer full refunds to qualifying scam victims, transaction fees can’t exceed 18%, and new customers face a $2,500 daily limit.

Those specific numbers are meant to slow down bad actors and give people a clearer path if they’re cheated. State lawmakers and consumer advocates have said those steps are long overdue.

Pritzker used his signing remarks to draw a contrast with Washington. Based on reports from the governor’s office, he accused the federal government of stepping back from protections after an April signing that overturned a revised IRS rule about who counts as a broker in decentralized finance.

“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,” ​Pritzker said.

He framed the state laws as a direct response to growing fraud and a federal posture he sees as friendlier to industry players than to everyday users.

Featured image from ABC News, chart from TradingView