Agencies
Services
Office of Innovation
Our Office promotes responsible innovation in the industries and professions regulated by IDFPR. We meet with and provide resources to innovators, entrepreneurs, and consumer advocates. We identify and research emerging marketplace risks, trends, and opportunities related to innovation. The Office also develops and coordinates innovation policy initiatives across IDFPR’s Divisions of Banking, Financial Institutions, Real Estate, and Professional Regulation, as well as working with our counterparts in other states and at the federal level.
Areas of Focus
Digital Assets
On August 18, 2025, Governor JB Pritzker signed the Digital Assets and Consumer Protection Act (Public Act 104-0428) and the Digital Assets Kiosk Act (Public Act 104-0429). Together, these laws create a comprehensive regulatory framework for digital asset businesses in Illinois and protect consumers against scams and fraud in the digital asset industry. The Department is currently implementing these new measures and creating a digital assets supervision unit within the Division of Banking. Digital asset businesses in Illinois will have until July 1, 2027, to register with IDFPR.
Artificial Intelligence
The proliferation of generative artificial intelligence (“AI”) and large language models highlights the need for regulators to be proactive in assessing and researching these transformative new technologies. The Office of Innovation leads IDFPR’s internal AI Working Group and helps coordinate AI policy across the Department’s divisions. The working group focuses on introducing AI technology to the agency in a deliberate, responsible, and ethical manner to identify internal opportunities and manage risk for the agency and its employees, as well as consider regulatory implications for our licensees.
Resources for Consumers
- Check out this informational graphic that highlights the consumer protections that went into effect when the Digital Asset Kiosk Act was signed into law on August 18, 2025.
- In August 2020, IDFPR Launched the "Making Cents of Money" podcast with the University of Illinois System. The financial-focused podcast takes complex consumer topics and breaks them down in a fun, easy-to-understand format. More than 100 episodes have been produced, including several that focus on digital assets (including cryptocurrency):
- Episode 24: Cryptocurrency
- Episode 56: Fintech and Digital Assets
- Episode 76: What is Crypto Anyway?
- Episode 78: Is Crypto the Wild West?
Contact Us
We’re here to help innovators and entrepreneurs get the information they need to navigate our regulations.
If you have an innovative idea or business that poses regulatory questions under IDFPR’s jurisdiction, please contact us at FPR.Innovation@illinois.gov with your name, title and affiliation, e-mail address, description of how your product or service represents a genuine innovation, and specific questions for IDFPR.
**This email inbox is not for professional licensure application inquiries, and such emails to this account will not receive a response. If you have such an inquiry, please contact IDFPR’s call center at 1-800-560-6420.**
Please be aware that meetings with the Office of Innovation are intended to be merely informational and to allow you to meet informally with IDFPR staff. In addition, any information that you share with IDFPR may be subject to public disclosure through the Illinois Freedom of Information Act (FOIA) (5 ILCS 140).
Please do not submit any material you consider to be confidential or sensitive.
