TechFlow, August 19 — According to Cointelegraph, Illinois Governor JB Pritzker signed two cryptocurrency regulatory bills on Monday.
The Digital Asset and Consumer Protection Act (SB 1797) authorizes the Illinois Department of Financial and Professional Regulation to oversee digital asset exchanges and businesses, requiring crypto firms to maintain adequate financial resources and implement cybersecurity measures.
The Digital Asset Kiosk Act (SB 2319) targets cryptocurrency ATMs, mandating operators to register with state regulators, provide full refunds to victims of fraud, cap transaction fees at 18%, and limit daily transactions for new users to $2,500.
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