According to Mars Finance, as reported by Cointelegraph, Illinois Governor JB Pritzker has signed the "Digital Asset and Consumer Protection Act" (SB 1797) and the "Digital Asset Self-Service Terminal Act" (SB 2319). The former authorizes the state's financial and professional regulatory agencies to oversee digital asset exchanges and related businesses, requiring them to maintain sufficient financial resources and implement cybersecurity measures; the latter pertains to Crypto Assets ATMs, stipulating that operators must sign up and register, refund victims of fraud in full, limit transaction fees to no more than 18%, and restrict new users to a daily transaction limit of $2500.
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Illinois has passed two encryption regulatory bills concerning exchanges and encryption ATMs.
According to Mars Finance, as reported by Cointelegraph, Illinois Governor JB Pritzker has signed the "Digital Asset and Consumer Protection Act" (SB 1797) and the "Digital Asset Self-Service Terminal Act" (SB 2319). The former authorizes the state's financial and professional regulatory agencies to oversee digital asset exchanges and related businesses, requiring them to maintain sufficient financial resources and implement cybersecurity measures; the latter pertains to Crypto Assets ATMs, stipulating that operators must sign up and register, refund victims of fraud in full, limit transaction fees to no more than 18%, and restrict new users to a daily transaction limit of $2500.