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Illinois Passes Two Cryptocurrency Regulation Bills Involving Exchanges and Crypto ATMs
Summary: Illinois Governor JB Pritzker has signed the Digital Asset and Consumer Protection Act (SB 1797) and the Digital Asset Self-Service Terminal Act (SB 2319), according to Cointelegraph. The former authorizes the state's financial and professional regulation department to regulate digital asset exchanges and related companies, requiring them to maintain sufficient financial resources and implement cybersecurity ...
Illinois Governor JB Pritzker has signed the Digital Asset and Consumer Protection Act (SB 1797) and the Digital Asset Self-Service Terminal Act (SB 2319), according to Cointelegraph. The former authorizes the state's financial and professional regulation department to regulate digital asset exchanges and related companies, requiring them to maintain sufficient financial resources and implement cybersecurity measures; the latter targets cryptocurrency ATMs, requiring operators to register, provide full refunds to fraud victims, limit transaction fees to no more than 18%, and restrict new users to a daily transaction limit of $2500.
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Link: Illinois Passes Two Cryptocurrency Regulation Bills Involving Exchanges and Crypto ATMs [Copy]
