The post Illinois Governor Slams Trump While Rolling Out Crypto Laws appeared on BitcoinEthereumNews.com.

The measures give state regulators oversight of exchanges and crypto ATMs, impose strict consumer safeguards, and respond to Illinois’ high ranking in crypto-related fraud losses. At the same time, former Ohio Senator Sherrod Brown, a vocal crypto critic who lost his seat in 2024 after heavy pro-crypto PAC spending, announced a comeback bid for the 2026 elections. His campaign will focus on workers’ rights and economic fairness. Illinois Challenges Trump on Crypto Illinois Governor JB Pritzker sharpened the divide in US crypto policy by using the signing of two new state bills to criticize President Donald Trump’s approach to digital assets. On Monday, Pritzker said the Trump Administration was allowing “crypto bros” to write federal policy, while Illinois was moving forward with what he described as “common-sense protections” for investors and consumers. The legislation from Illinois comes as states across the country adopt increasingly different approaches to crypto regulation. Republican-led states like Texas and Arizona embraced the industry, while Democratic strongholds like Illinois are tightening oversight.  The first measure, the Digital Assets and Consumer Protection Act (SB 1797), gives the Illinois Department of Financial and Professional Regulation broad authority over digital asset exchanges and businesses operating in the state. Companies will now be required to maintain adequate financial reserves, adopt cybersecurity and anti-fraud protocols, provide investors with clear disclosures, and uphold customer service standards in line with those of traditional financial firms. A second measure, the Digital Asset Kiosk Act (SB 2319), focuses on cryptocurrency ATMs, which are a frequent entry point for retail investors and a hotspot for fraud. The law requires operators to register with state regulators, cap transaction fees at 18%, refund scam victims in full, and limit daily transactions for new customers to $2,500.  The legislation responds to rising fraud cases. The FBI actually reported that…

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Filed under: News - @ August 19, 2025 9:28 am