Illinois Governor recently signed legislation establishing new rules for the digital asset industry. These regulations, detailed in the Digital Assets and Consumer Protection Act and the Digital Assets Self-Service Terminal Act, require cryptocurrency exchanges to comply with state standards, implement anti-fraud and cybersecurity protocols, and set guidelines for ATM operators. These include registration requirements, provisions for fraud refunds, a 18% transaction fee cap, and daily limits of $2,500 on new user transactions. Notably, the Governor’s actions reflect concern regarding the lack of federal regulation surrounding cryptocurrencies under the Trump administration. Illinois alone reported $272 million in cryptocurrency fraud losses in 2024.