Illinois Signs Cryptocurrency Consumer Protection Bill

According to Decrypt, Illinois Governor JB Pritzker signed the Digital Asset and Consumer Protection Act (SB1797) and the Digital Asset Self-Service Terminal Act (SB2319), becoming the first state in the Midwest to implement comprehensive cryptocurrency user protection measures. The new laws empower state regulators to oversee exchanges and wallet providers, while requiring businesses to implement cybersecurity and anti-fraud measures and setting consumer service standards.