Illinois Governor JB Pritzker has introduced strict cryptocurrency regulations, aimed at protecting consumers and investors from fraud and inadequate federal oversight. These rules mark a significant departure from more lenient approaches in other states, potentially impacting the operation of crypto businesses in Illinois. Governor Pritzker argues that these actions are necessary to address concerns about consumer exploitation in the cryptocurrency market. The new regulations require exchanges and ATMs to register and impose limitations on transactions. Key features include caps on daily transaction sizes at $2,500 and ATM fees capped at 18%. These measures could reshape local crypto business operations. While some criticize these rules for potentially stifling innovation, supporters argue that they provide essential consumer protections against rising crypto-related scams. The regulations reflect a shift in Illinois’s approach to crypto regulation, contrasting with states like Texas which offer more permissive environments. This move may reduce fraud but could also limit the dynamism and appeal of crypto businesses within the state.