The Illinois Department of Financial and Professional Regulation will require the crypto industry to comply with protections now in place for consumers of traditional financial services, such as banks. 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 percent and provide full refunds to new customers who get defrauded.
A largely unasked question is becoming glaring: Is Illinois doing all it should to use artificial intelligence to make government cost less and work better? So far, the evidence says no.
Constitutionally illiterate Pritzker needs to look up “federal preemption” and discover why state crypto laws are invalid.