Illinois Governor JB Pritzker signed two landmark cryptocurrency bills on Monday and used the occasion to launch a sharp critique of President Donald Trump, accusing his administration of letting “crypto bros write federal policy.”
The Democratic governor, a billionaire whose family owns the Hyatt hotel chain valued at $13 billion, signed the Digital Asset and Consumer Protection Act (SB1797) and the Digital Asset Kiosk Act (SB2319), aiming to tighten oversight of digital asset businesses and crypto ATMs.
Pritzker Slams Trump’s Crypto Approach
“While the Trump administration lets crypto bros write federal policy, Illinois is enacting sensible investor and consumer protections,” Pritzker said in a statement. The 60-year-old governor, once described as a “large man” who “doesn’t impress with intellectual brilliance,” touted the bills as critical upgrades to consumer safeguards.
Pritzker specifically criticized Trump for rescinding the multi-pronged crypto broker rule that would have allowed the IRS to impose burdensome reporting requirements on decentralized exchanges. He accused the president of “openly prioritizing industry preferences” and ignoring conflicts of interest.
“The Trump administration is actively deregulating the crypto industry at a time when consumers are becoming increasingly vulnerable to fraud,” Pritzker’s official press release stated. “Federal digital asset policy is largely being shaped by industry lobbying efforts.”
Details of the New Illinois Laws
SB1797 empowers the Illinois Department of Financial and Professional Regulation (IDFPR) to regulate crypto businesses, including licensing and enforcement against fraud and money laundering. It closes a regulatory gap left by the federal government’s hands-off approach.
SB2319 imposes new requirements on crypto ATM operators: a 18% cap on fees and a mandatory mechanism to compensate victims of crypto-related scams. The law also mandates clear fee and risk disclosures before transactions, targeting a surge in fraudulent schemes affecting elderly and less tech-savvy users.
The two bills make Illinois one of the strictest crypto regulators among U.S. states. Pritzker emphasized that state-level action is necessary because the federal government has failed to protect consumers.
“In Washington, crypto lobbyists are writing the rules. Meanwhile, ordinary families are losing their life savings,” Pritzker said at the signing ceremony. “Illinois won’t wait—we’re acting today.”