All Roll Calls
Yes: 286 • No: 132
IllinoisSB2319104th General Assembly (2025–2026)SenateWALLET
VIRTUAL CURRENCY CONSUM PROT
Sponsored By: Laura Ellman (Democratic)
Signed by Governor
Summary
Creates the Virtual Currency Kiosk Consumer Protection Act. Provides that specified information reported to the Department of Financial and Professional Regulation by virtual currency kiosk shall be confidential, except as otherwise provided in the Act. Establishes warning and general terms and conditions disclosure requirements for a virtual currency kiosk operator opening an account for a new customer and prior to entering into an initial transaction for, on behalf of, or with the customer. Requires a receipt to be provided to each customer following a transaction. Requires all virtual currency kiosk operators to have live customer service, as specified; create anti-fraud, enhanced due diligence, and federal and State law compliance policies; designate a compliance officer and a consumer protection officer; and use blockchain analytics software to assist in the prevention of sending purchased virtual currency from a virtual currency kiosk operator to a digital wallet known to be affiliated with fraudulent activity at the time of a transaction; and report the location of each virtual currency kiosk located within this State within 45 days after the end of the calendar quarter. Requires a virtual currency kiosk operator to receive a money transmitter license. Sets forth supervision duties for the Department and the Secretary of Financial and Professional Regulation.
assignmentsexecutivefinancial institutions and licensing
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Bill Overview
Analyzed Economic Effects
11 provisions identified: 4 benefits, 3 costs, 4 mixed.
Refund rights for kiosk scam victims
Customers tricked by fraud can request refunds from the kiosk operator. New customers get the full amount of up to 3 fraudulent transactions during the new-customer period. That period covers the first 3 transactions or 7 days after account opening, whichever comes first. They must contact the operator within 30 days and submit a police or government-agency report within 60 days. Both deadlines run from the last transaction in the new-customer period. Existing customers get all transaction charges back, not the full transaction amount, with the same deadlines measured from each transaction.
Daily limits for crypto kiosk customers
Illinois kiosk operators can accept or dispense up to $2,500 per day for a new customer. The daily limit for an existing customer is $10,500. New-customer status lasts for the first 3 transactions or 7 days after account opening, whichever comes first.
Residents gain claims; operators face penalties
Illinois residents can sue over violations of Sections 25, 30, or 45; winners may receive reasonable attorney fees and court costs. The Secretary can order restitution, deny or suspend registration, revoke it, impose probation, or issue a reprimand. Operators face fines up to $25,000 per offense, or $75,000 for specified offenses, and must pay administrative hearing costs. The Secretary can stop unlawful unregistered operations, order fixes, and seek court injunctions through the Attorney General. People receiving Department inquiries must promptly reply in writing, and operators must provide reports when required.
Capped charges for crypto kiosk customers
Operators cannot charge more than the greater of $5 or 18% of the digital assets’ market value per transaction. The market value is measured when the customer starts the transaction.
Clearer costs and warnings for kiosk customers
Before every transaction, operators must give clear, separate written terms in English and the language mainly used with the customer. Disclosures list asset amounts, dollar charges, charged and market prices, and refund or reversal steps. A bold warning explains that fraud or accidental losses may be unrecoverable and transactions generally cannot be reversed. Other warnings cover price swings, fraud, disappearing markets, technology risks, regulatory changes, and when public-ledger recording completes a transaction. Customers must also be told that digital assets are not legal tender, government-backed, or protected by federal deposit or securities insurance. Disclosures must explain limits on any bond or trust protection. Every transaction requires a receipt with the customer’s name, date and time, operator contacts, asset amounts and addresses, cash amounts, charges, price spread, and refund steps.
More fraud safeguards and live kiosk help
Operators must offer live help during kiosk hours and display a toll-free number on the kiosk or screen. They must take reasonable steps to prevent fraud and maintain a written anti-fraud policy. Required blockchain software must help prevent transfers to wallets known to be linked to fraud and detect illegal patterns. Operators must post a frequently monitored U.S. phone number or email for government agencies handling customer fraud reports. The Illinois Department of Financial and Professional Regulation must publish kiosk addresses and operator contacts; operators must report address changes within 30 days.
Kiosk operators pay state oversight costs
Operators pay $150 per hour or partial hour for each assigned examiner or staff member, plus actual examination travel costs. They also pay a share of administration costs exceeding other fees, including prior-year deficits. The first annual assessment uses each operator’s share of total Illinois kiosk transaction value. Money collected goes into the Digital Asset Kiosk Fund for administering this law and other financial laws, with transfers allowed to other Department funds. The fund’s creation is subject to the separate Senate Bill 1797 trigger.
Registration and application costs for kiosk operators
Kiosk operators must register with the Illinois Department of Financial and Professional Regulation unless exempt. Operators already running Illinois kiosks when the law took effect have until July 1, 2027, to register. Applications carry a nonrefundable $5,000 fee and require ownership, management, financial, licensing, operating, bond, and anti-money-laundering information. The Secretary may waive some documents for good cause or deny registration for noncompliance, unsuitable leadership, or public-interest concerns. Operators must renew annually and report unreported major changes by December 1, unless the Secretary extends the deadline.
Kiosk exemptions and rules against evasion
The law took effect immediately and applies to digital asset kiosks in Illinois. Specified governments, federally insured depository institutions, and credit unions with approved share-account insurance are exempt. Out-of-state credit unions can conduct only activities allowed for Illinois-chartered credit unions. The Department can grant further exemptions for people, digital assets, or transactions when appropriate, in the public interest, and consistent with protecting residents. Deals structured to evade the law remain covered.
Kiosk operators fund bonds and maintain capital
Operators must continuously maintain a bond equal to the greater of $100,000 or their monthly Illinois kiosk transaction value. Transaction value is based on the most recently completed quarter, and the bond is capped at $2 million. People harmed by a breach of the bond’s terms can sue for payment from it. Operators must also maintain tangible net worth of at least $100,000 or a larger asset-based amount. That amount adds 3% of the first $100 million in assets, 2% from $100 million to $1 billion, and 0.5% above $1 billion; the Secretary may grant a partial or full exemption.
Separate law triggers kiosk oversight repeal
The law sets an event-based repeal for several kiosk oversight provisions, including registration, fees, bonds, capital requirements, and enforcement. The trigger is Senate Bill 1797 of the 104th General Assembly, as amended by House Amendment No. 1, becoming law. The listed sections are repealed on that date, rather than on a fixed calendar date. This removes covered operator obligations and the protections provided by those sections.
Sponsors & Cosponsors
Sponsor
Laura Ellman
Democratic • Senate
Cosponsors
Christopher Belt
Democratic • Senate
Curtis J. Tarver, II
Democratic • House
Doris Turner
Democratic • Senate
Graciela Guzmán
Democratic • Senate
Karina Villa
Democratic • Senate
Laura M. Murphy
Democratic • Senate
Mark L. Walker
Democratic • Senate
Mary Edly-Allen
Democratic • Senate
Mattie Hunter
Democratic • Senate
Mike Porfirio
Democratic • Senate
Natalie A. Manley
Democratic • House
Sara Feigenholtz
Democratic • Senate
Roll Call Votes
Senate vote • 6/1/2025
House Floor Amendment No. 1 Senate Concurs
Yes: 39 • No: 18
House vote • 5/31/2025
Third Reading - Short Debate - Passed
Yes: 81 • No: 36
Senate vote • 5/31/2025
House Floor Amendment No. 1 Motion To Concur Recommended Do Adopt Executive;
Yes: 9 • No: 4
House vote • 5/30/2025
House Floor Amendment No. 1 Recommends Be Adopted Financial Institutions and Licensing Committee;
Yes: 8 • No: 4
House vote • 5/29/2025
Do Pass / Short Debate Financial Institutions and Licensing Committee;
Yes: 8 • No: 4
House vote • 5/28/2025
Motion to Suspend Rule 21 - Prevailed
Yes: 73 • No: 39
Senate vote • 5/22/2025
Third Reading - Passed;
Yes: 39 • No: 19
Senate vote • 5/21/2025
Senate Floor Amendment No. 3 Recommend Do Adopt Executive;
Yes: 9 • No: 4
Senate vote • 5/8/2025
Senate Floor Amendment No. 1 Recommend Do Adopt Executive;
Yes: 8 • No: 3
Senate vote • 4/9/2025
Do Pass Executive;
Yes: 12 • No: 1
Actions Timeline
Public Act . . . . . . . . . 104-0429
8/18/2025SenateEffective Date August 18, 2025
8/18/2025SenateGovernor Approved
8/18/2025SenateSent to the Governor
6/30/2025SenatePassed Both Houses
6/1/2025SenateSenate Concurs
6/1/2025SenateHouse Floor Amendment No. 1 Senate Concurs 039-018-000
6/1/2025Senate3/5 Vote Required
6/1/2025SenateHouse Floor Amendment No. 1 Motion To Concur Recommended Do Adopt Executive; 009-004-000
5/31/2025SenateAdded as Chief Co-Sponsor Sen. Mattie Hunter
5/31/2025SenateHouse Floor Amendment No. 1 Motion to Concur Assignments Referred to Executive
5/31/2025SenateHouse Floor Amendment No. 1 Motion to Concur Referred to Assignments
5/31/2025SenateHouse Floor Amendment No. 1 Motion to Concur Filed with Secretary Sen. Laura Ellman
5/31/2025SenatePlaced on Calendar Order of Concurrence House Amendment(s) 1 - May 31, 2025
5/31/2025SenateSecretary's Desk - Concurrence House Amendment(s) 1
5/31/2025SenateThird Reading - Short Debate - Passed 081-036-000
5/31/2025HousePlaced on Calendar Order of 3rd Reading - Short Debate
5/31/2025HouseHouse Floor Amendment No. 1 Adopted
5/31/2025HouseHouse Floor Amendment No. 1 Recommends Be Adopted Financial Institutions and Licensing Committee; 008-004-000
5/30/2025HouseHouse Floor Amendment No. 1 Rules Refers to Financial Institutions and Licensing Committee
5/30/2025HouseHeld on Calendar Order of Second Reading - Short Debate
5/29/2025HouseSecond Reading - Short Debate
5/29/2025HouseHouse Floor Amendment No. 1 Referred to Rules Committee
5/29/2025HouseHouse Floor Amendment No. 1 Filed with Clerk by Rep. Curtis J. Tarver, II
5/29/2025HousePlaced on Calendar 2nd Reading - Short Debate
5/29/2025House
Bill Text
Engrossed
Enrolled
House Amendment 1
Introduced
Senate Amendment 1
Senate Amendment 2
Senate Amendment 3
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