Agencies
Services
Digital Assets
On August 18, 2025, Governor Pritzker signed into law The Digital Assets and Consumer Protection Act (205 ILCS 731/) ("DACPA") and The Digital Assets Kiosk Act (205 ILCS 732/) ("DAKA"). These laws create first-of-their-kind safeguards in the Midwest for digital assets and gives IDFPR authority to regulate the industry to protect consumers. IDFPR sent an industry notification to digital asset kiosk operators informing them of these new laws and IDFPR’s authority to enforce them.
What the New Laws Do
For Consumers:
- Limits losses to fraud by capping daily transactions at kiosks at $2,500 for new customers and $10,500 for existing customers.
- Reduces excessive transaction fees by setting limits on fees at kiosks at the greater of $5 or 18% of digital assets involved in the transaction
- Provides refund protections for victims of scams by requiring Digital Asset Kiosk Operators to provide full refunds to customers who:
- Request a refund from the company within 30 days after the last transaction; and
- Submit a police report within 60 days of the incident.
For Businesses:
- Introduces a registration process with the Illinois Department of Financial and Professional Regulation in 2027.
- Sets expectations for investment disclosures, customer asset safeguards, and customer service standards.
- Establishes standards for businesses to maintain adequate financial resources and to implement plans and procedures for addressing critical risks, including cybersecurity, fraud, and money laundering, consistent with regulations for traditional financial services.
- Sets clear disclosure standards for kiosk operators to explain fees, risks, and refund rights, and provide a list of locations for publication on the IDFPR website.
The Department is currently working on the administrative rules to implement DACPA and DAKA. The rules will be posted on this webpage.
