Illinois Governor Signs Two Landmark Crypto Regulation Bills

• Illinois toughens crypto laws, sparking backlash from industry leaders.
• Governor Pritzker’s critique of ‘crypto bros’ divides opinions.

On August 20, 2025, Illinois Governor J.B. Pritzker signed two sweeping crypto regulation bills into law — but his pointed criticism of ‘crypto bros’ during the announcement has ignited sharp backlash from industry leaders, according to reports from Cryptopolitan, ICO Bench, and The Block. The reforms mark a milestone in state-led regulation of digital assets.

The Digital Assets and Consumer Protection Act (SB 1797) empowers the Illinois Department of Financial and Professional Regulation to oversee cryptocurrency exchanges operating within the state. The law requires companies to implement fraud prevention measures, adhere to cybersecurity standards, maintain adequate financial resources, and provide transparent investment disclosures. The bill also introduces customer service standards comparable to those of traditional financial institutions.

The second law, the Digital Asset Kiosk Act (SB 2319), focuses on regulating cryptocurrency ATMs. This legislation mandates that operators register with the state and provide full refunds to individuals victimized by scams. Additionally, the law caps transaction fees at 18% and limits daily transactions for new users to $2,500.

Governor Pritzker sparked controversy by criticizing former President Trump and cryptocurrency advocates during the signing ceremony. He commented, “While the Trump Administration is letting crypto bros write federal policy, Illinois is implementing common-sense protections for investors and consumers.” This statement drew criticism from leaders in the cryptocurrency industry, including representatives from Coinbase and advocacy group Stand With Crypto. These critics argued the governor’s remarks were divisive and risked alienating stakeholders within the digital asset sector.

As of August 20, 2025, 16:08 UTC, Bitcoin (BTC) is trading at $113,348.60, with a 0.37% decrease in its 24-hour trading volume, according to CoinMarketCap.