Ah, Illinois, the land of deep-dish pizza, jazz, and now, the state that’s not afraid to throw shade at Trump. On Monday, Governor JB Pritzker decided it was time to put some serious muscle into policing those shady crypto businesses-because, apparently, someone has to do it. Two new laws were signed into existence that give regulators more tools to crack down on crypto crooks and kiosks that might as well be calling themselves “scam central.”
In a perfect *”hold my beer”* moment, Pritzker didn’t just sign laws; he also found a golden opportunity to take a potshot at President Donald Trump. According to the governor’s office, Trump’s federal moves were loosening protections for consumers-*because who doesn’t love a good ol’ scam, right?* 😒
State Gives Regulator New Powers
SB 1797 is the shiny new law that hands over a shiny new set of powers to the Illinois Department of Financial and Professional Regulation. This time, they get the authority to supervise digital-asset exchanges. No more crypto businesses running wild like a toddler hopped up on candy. 🧸
“While the Trump Administration is letting crypto bros write federal policy, Illinois is implementing common-sense protections for investors and consumers,” Governor Pritzker said, probably with a well-earned smirk. 🍿
“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
Now, here’s where it gets juicy: the law forces companies to hold enough money (like, enough to *actually* cover your stuff), put up cybersecurity defenses, make clear investment disclosures, and meet service standards that are, well, not completely out of this world. You know, *basic* stuff.
The bill sailed through the state Senate in April, and it’s making it clear who has to follow state rules and who doesn’t. A real “we’re in charge, deal with it” vibe. 💼
Kiosk Rules Aim To Curb Scams
SB 2319 is here to target those sketchy crypto kiosks and ATMs popping up like weeds. Reports show that these new rules are, well, *very specific*, which should leave scammers running for cover. Operators? You gotta register. Kiosks? Full refunds for scammed customers. Transaction fees? No more than 18%. Oh, and new customers? A *generous* $2,500 daily limit. Because, why not? 😅
The hope is these new rules will finally slow down the bad actors and give scammed victims a way to get their money back. Finally, some *long overdue* accountability.
And let’s not forget that political jab Pritzker delivered. With a flourish, he drew a line between Illinois and Washington. The feds are apparently just chilling while fraudsters evolve and consumer protections disappear. Pritzker? Not so much. He framed the state’s new laws as the *ultimate* response to growing fraud and a federal government that, according to him, is more *crypto-friendly* than *user-friendly*. Ouch. 😬
In short, Illinois is stepping up to protect its people’s hard-earned cash-while the feds might just be giving fraudsters a pat on the back. But hey, that’s politics, right? *Sigh*.
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2025-08-19 17:15