Illinois Enacts Landmark Crypto Regulations as Governor Pritzker Criticizes Trump’s Approach

Illinois Governor JB Pritzker has signed two pioneering digital asset laws, positioning the state as a Midwest leader in cryptocurrency regulation. The move comes alongside sharp criticism of former President Donald Trump's laissez-faire approach to federal crypto policy.

The Digital Assets and Consumer Protection Act establishes comprehensive oversight by the Department of Financial and Professional Regulation, setting standards for customer protections, asset custody, and compliance procedures. A companion law specifically regulates crypto ATMs, mandating transparency measures like transaction receipts and clear terms disclosure.

Pritzker framed the legislation as a necessary counterbalance to what he characterized as Trump's reliance on industry insiders to shape federal policy. "While TRUMP lets crypto bros write federal policy, Illinois is implementing common-sense protections," the governor stated in a social media post announcing the new laws.

The regulatory push reflects growing state-level efforts to establish guardrails for digital assets amid ongoing federal uncertainty. Illinois' approach emphasizes investor protections while attempting to maintain an environment conducive to blockchain innovation.