Security
Illinois Governor Pritzker to call for bitcoin ATM regulations
February 19, 2025
Illinois Governor JB Pritzker will likely propose regulations on cryptocurrency ATMs. In particular his administration aims to tackle scamming and money laundering operations, according to a report by WBEZ Chicago.
This regulation would place a daily limit on transactions, cap fees and require receipts showing both the value of the crypto and the fees. There are currently a large number of cryptocurrency ATMs in Illinois, with 1,167 in Chicago and around 1,626 in the entire state.
"When left unregulated, crypto kiosks are often used as tools for scams that victimize the most vulnerable Illinoisans," Pritzker said in a statement. "Those who are harmed by these scams have little or no ability to seek restitution or justice because of the unrestricted nature of these ATMs. In addition, the ATMs are a common tool in laundering money for drug transactions and other illegal activities."
In Arizona, thehouse introduced a bitcoin ATM scam bill that would limit daily transaction amounts to $1,000.
