Pritzker, taking aim at Trump, crypto ‘bros,’ signs laws to regulate digital currency industry, crypto ATMS
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The laws will bolster consumer protections for crypto users and limit withdrawals to $2,500 a day for new users of digital currency kiosks, which have become magnets for scams and drug-dealing.
The Illinois Department of Financial and Professional Regulation, which has been given the power to regulate digital asset exchanges and businesses, will require the crypto industry to comply with protections now in place for consumers of traditional financial services, such as banks.
Crypto businesses will have to keep enough money on hand to operate effectively and have plans to target fraud and money-laundering.
To prevent fraud, the state will cap daily transaction amounts at kiosks at $2,500 for new customers, limit transaction fees at kiosks to 18% and provide full refunds to new customers who get defrauded.
“While the Trump administration is letting crypto ‘bros’ write federal policy, Illinois is implementing common sense protections for investors and consumers,” Pritzker said.
One sponsor of the legislation, state Sen. Laura Ellman, D-Naperville, said basic consumer protections in the cryptocurrency world are lacking.
“This measure addresses areas in the virtual currency market vulnerable to fraud and empowers Illinois consumers to make informed investments,” Ellman said.
Pritzker, taking aim at Trump, crypto ‘bros,’ signs laws to regulate digital currency industry, crypto ATMS
The laws will bolster consumer protections for crypto users and limit withdrawals to $2,500 a day for new users of digital currency kiosks, which have become magnets for scams and drug-dealing.
Chicago Sun-Times (chicago.suntimes.com)
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The laws will bolster consumer protections for crypto users and limit withdrawals to $2,500 a day for new users of digital currency kiosks, which have become magnets for scams and drug-dealing.
The Illinois Department of Financial and Professional Regulation, which has been given the power to regulate digital asset exchanges and businesses, will require the crypto industry to comply with protections now in place for consumers of traditional financial services, such as banks.
Crypto businesses will have to keep enough money on hand to operate effectively and have plans to target fraud and money-laundering.
To prevent fraud, the state will cap daily transaction amounts at kiosks at $2,500 for new customers, limit transaction fees at kiosks to 18% and provide full refunds to new customers who get defrauded.
“While the Trump administration is letting crypto ‘bros’ write federal policy, Illinois is implementing common sense protections for investors and consumers,” Pritzker said.
One sponsor of the legislation, state Sen. Laura Ellman, D-Naperville, said basic consumer protections in the cryptocurrency world are lacking.
“This measure addresses areas in the virtual currency market vulnerable to fraud and empowers Illinois consumers to make informed investments,” Ellman said.
Pritzker, taking aim at Trump, crypto ‘bros,’ signs laws to regulate digital currency industry, crypto ATMS
The laws will bolster consumer protections for crypto users and limit withdrawals to $2,500 a day for new users of digital currency kiosks, which have become magnets for scams and drug-dealing.
Chicago Sun-Times (chicago.suntimes.com)
Its crazy to me that my state seems to be functioning at a better level than the federal government. We have went up while federal has gone down.
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Its crazy to me that my state seems to be functioning at a better level than the federal government. We have went up while federal has gone down.
Mr. Pritzker seems to be doing a decent job. Better than Newsom by quite a bit. Why haven't I seen any shitlibs making ai slop of Melania sucking his dick while he's dressed up like Superman? Shitlibs, get on that. Or just stop sucking Newsom's balls. That's a better option lol
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The laws will bolster consumer protections for crypto users and limit withdrawals to $2,500 a day for new users of digital currency kiosks, which have become magnets for scams and drug-dealing.
The Illinois Department of Financial and Professional Regulation, which has been given the power to regulate digital asset exchanges and businesses, will require the crypto industry to comply with protections now in place for consumers of traditional financial services, such as banks.
Crypto businesses will have to keep enough money on hand to operate effectively and have plans to target fraud and money-laundering.
To prevent fraud, the state will cap daily transaction amounts at kiosks at $2,500 for new customers, limit transaction fees at kiosks to 18% and provide full refunds to new customers who get defrauded.
“While the Trump administration is letting crypto ‘bros’ write federal policy, Illinois is implementing common sense protections for investors and consumers,” Pritzker said.
One sponsor of the legislation, state Sen. Laura Ellman, D-Naperville, said basic consumer protections in the cryptocurrency world are lacking.
“This measure addresses areas in the virtual currency market vulnerable to fraud and empowers Illinois consumers to make informed investments,” Ellman said.
Pritzker, taking aim at Trump, crypto ‘bros,’ signs laws to regulate digital currency industry, crypto ATMS
The laws will bolster consumer protections for crypto users and limit withdrawals to $2,500 a day for new users of digital currency kiosks, which have become magnets for scams and drug-dealing.
Chicago Sun-Times (chicago.suntimes.com)
limit transaction fees at kiosks to 18%
That's it?!
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Mr. Pritzker seems to be doing a decent job. Better than Newsom by quite a bit. Why haven't I seen any shitlibs making ai slop of Melania sucking his dick while he's dressed up like Superman? Shitlibs, get on that. Or just stop sucking Newsom's balls. That's a better option lol
No need for AI when the truth is far more shitty than anything that could be thought of.
Sincerely, an independent.
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Its crazy to me that my state seems to be functioning at a better level than the federal government. We have went up while federal has gone down.
my state seems to be functioning at a better level than the federal government
As someone who lives in California, this just seems like a normal thing.
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Its crazy to me that my state seems to be functioning at a better level than the federal government. We have went up while federal has gone down.
It’s funny that the exact same thing happened in Brazil during Bolsonaro. When the pandemic peaked, the Federal government simply sit down while the States themselves (literally all States) joined and negotiated the vaccines for Brazil bypassing the Federal role.
