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ARTICLE · 17 SEPTEMBER 2025

Illinois Enacts Crypto Law: What Does It Mean For The Industry?

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On August 18, 2025, Illinois Governor JB Pritzker signed Senate Bill 1797, enacting, in his words, "first-of-their-kind safeguards in the Midwest for cryptocurrency and other digital assets."...

United StatesTechnology
Patrick Daugherty
Patrick Daugherty
James G. Lundy
James G. Lundy
J. Michael Bresnahan Jr
J. Michael Bresnahan Jr
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On August 18, 2025, Illinois Governor JB Pritzker signed Senate Bill 1797, enacting, in his words, "first-of-their-kind safeguards in the Midwest for cryptocurrency and other digital assets."1 This Illinois law is the Digital Assets and Consumer Protection Act (DACPA or the Act), which establishes an Illinois-state-level regulatory framework for centralized crypto exchanges that have customers and certain other digital asset businesses operating in Illinois. DACPA will be administered and enforced by the Illinois Department of Financial and Professional Regulation (IDFPR).

Highlights of this bill include:

  • Granting IDPFR authority to regulate and supervise digital asset businesses and centralized digital asset exchanges under the DACPA and the existing Corporate Fiduciary Act (205 ILCS 620).

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