SPRINGFIELD, Ill. (WAND) – Consumers in Illinois have collectively received more than $750,000 in refunds thanks to the state’s cryptocurrency regulations. Operators of digital asset kiosks are mandated to provide financial restitution to those affected by cryptocurrency scams and fraudulent activities.
On Monday, the Pritzker administration reported that since August 2025, crypto companies have processed over 450 refund requests from residents of Illinois. The total amount refunded reached $750,206.61, averaging around $1,656 per refund.
The introduction of the Digital Asset Kiosks Act implemented new obligations for kiosk operators, such as disclosing their locations and enhancing consumer protections to combat fraud and scams.
“Illinois has improved consumer protection measures, and the results are evident,” stated Sen. Laura Ellman (D-Naperville). “People are reclaiming their funds, and operators are being held responsible. We will not allow scams to go unanswered.”
This legislation also introduced a cap on transaction fees at 18% for crypto kiosks, in addition to restricting daily transaction limits for new users to $2,500. Lawmakers emphasized that this part of the law offers extra safety for consumers who might not be well-versed in the risks associated with digital asset kiosks and cryptocurrency transactions.
However, some Republicans opposed this legislation, feeling that Illinois should adopt regulations made by other states.
“Coinbase, as far as I’m aware, still stands against this bill,” remarked Sen. Steve McClure (R-Springfield). “Currently, are they still the sole opponent?”
Democratic lawmakers acknowledged that while Coinbase is a significant player in the cryptocurrency sector, the company was always likely to reject state-level regulations.
Individuals who suspect they have fallen victim to a cryptocurrency kiosk scam can file for a refund by reporting the fraudulent activity to the operator within 30 days of the transaction. Additionally, a police report must be submitted to the operator within 60 days.
The Illinois Department of Financial and Professional Regulation (IDFPR) encourages consumers to report any crypto scams by submitting a complaint on the IDFPR website. Further information on cryptocurrency and state regulations can be found by clicking here.
“By implementing significant protections, we expect to positively impact the lives of Illinois residents,” stated IDFPR Secretary Mario Treto Jr. “The return of over $750,000 to consumers clearly shows that the Digital Asset Kiosks Act is fulfilling its intended purpose. IDFPR will continue to promote the idea that consumer protection and innovation can—and should—go hand in hand.”
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