Illinois becomes the first state in the Midwest to sign a consumer protection bill for Crypto Assets.

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According to Techub News and reported by Decrypt, Illinois Governor J.B. Pritzker has signed the Digital Asset and Consumer Protection Act (SB1797) and the Digital Asset Self-Service Terminal Act (SB2319), granting state regulators oversight of encryption exchanges and Wallet providers, and requiring the establishment of anti-fraud measures and basic consumer service standards. The new regulations impose registration requirements on encryption ATM operators, set a maximum transaction fee of 18%, limit new users' daily transaction volume to $2500, and mandate full refunds to scammed users. There are currently about 1482 encryption ATMs in Illinois, a decrease compared to 2022. Governor Pritzker noted that this move aims to provide basic protections for investors in the absence of strong federal regulation.

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