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Governor

Bitcoin advocate Ian Calderon runs for California governor

by admin September 28, 2025

On September 23, Ian Calderon joined the Gubernatorial Elections in California. He vowed to ensure that Bitcoin would be on the state’s balance sheet if he were elected. However, many in the Bitcoin community are skeptical.

Summary

Calderon has a multi-year track record of advocating for crypto and Bitcoin in the California legislature.
Calderon is trying to appeal to both Republicans and Democrats.
The announcement of his gubernatorial campaign sparked mixed reactions from the crypto community.

Who is Calderon?

Calderon, a Democrat, drew scrutiny last week with his pro-crypto stance. Critics say his Bitcoin narrative is a PR stunt. Yet, others found Calderon’s bid noteworthy, as it signifies the rising bipartisan support for Bitcoin.

Calderon served three terms in the California Legislature before quitting in 2020. He was the first millennial elected to the Legislature and the youngest majority leader in the history of the California State Assembly.

Among his Bitcoin-related initiatives is one aimed at pulling crypto out of the gray zone. After all, Calderon is the author of the 2018 bill AB 2658, which created California’s Blockchain Working Group. It aimed to explore the potential use of blockchain technology and cryptocurrencies, collaborate with policymakers to define the legal status of cryptocurrencies, and assess possible risks.

Between 2020 and 2022, he contributed to the Blockchain Working Group’s roadmap and began working on a bill aimed at making Bitcoin a legal tender in California.

Calderon saw the bill as groundbreaking legislation for the entire country. He said in 2022:

“It’s important that we’re making this effort in California because of the national implications it will have. The goal here is to have a national model piece of legislation that can work anywhere in the country.”

It’s worth saying that despite Calderon’s claim about Bitcoin as legal tender, the bill doesn’t contain the words “Bitcoin” or “cryptocurrency.” Instead, it provides a pretty vague definition of “virtual currency” meant as a means of payment for goods and services. Calderon offered to launch pilot programs to tackle the bill’s legal ambiguity for the local cities. The bill has not seen much progress since November 2022.

Calderon’s platform

Calderon’s announcement was accompanied by a video clip in which he outlined the problems he plans to tackle as governor. He mentions growing gas and grocery prices and the housing crisis:

“Childcare costs are out of control, paychecks aren’t keeping up with the cost of living, gas prices are the highest in the nation, and now, buying a home is becoming out of reach.”

Additionally, Calderon notes that too many homes in California are owned by corporations and foreign investors, “preventing local families from attaining full ownership opportunities.”

Calderon presents himself as a Democrat who believes in common-sense solutions and does not always agree with his party. The complete list of his initiatives is available on his campaign’s website, Ian For Governor.

He barely mentions Bitcoin in the video; however, on the day when he announced his governor bid, Calderon took to an X to state that it’s time to make California an undisputed leader on Bitcoin.

California has always been a leader on technology. It’s time for us to get back to our roots and make California the undisputed leader on Bitcoin.

— Ian Calderon (@IanCalderon) September 23, 2025

Reaction

A long-time ally, Dennis Porter, the Satoshi Act Fund CEO, has been teasing his 200,000-plus follower base with an important announcement for days.

When it turned out that he just wanted to inform his followers that Calderon is running for governor of California, many of his followers said the announcement wasn’t worth the hype.

Some of them equate Democrats with a war on crypto and don’t believe Calderon is a genuine Bitcoin supporter.

Most of them are unaware of Calderon’s track record as a Bitcoin advocate. Seemingly, the fact that the biggest crypto bills of 2025 were bipartisan doesn’t matter to them either.

Is this really “it”? Dennis…. I love what you do, but the hype was uncalled for.

— G$ (@Gendog52) September 23, 2025

Other critics recalled Calderon’s uncles, Ron and Tom, who were involved in California political life. In 2016, they were convicted on public corruption charges.

The adverse reactions stemming from Porter’s announcement spread on the comment sections of the announcements made by Calderon himself and several crypto influencers.

The latter includes The Wolf of All Streets podcast host Scott Melker and Wendy O, who is the host of the biggest female-run Bitcoin YouTube show, “The O Show.” Some expressed support for Calderon’s ambitions but urged him to stop his affiliation with Porter.

Dude… If you want to be serious drop working with @Dennis_Porter_ you might be a good guy but this guy hyped everyone up over a big announcement. It wasn’t a political announcement…

— ²¹²Johyo | CroCrash (@Johyo_cro) September 23, 2025

Nevertheless, many other people greeted an openly pro-Bitcoin candidate from the Democratic Party, hoping that Calderon could oppose fellow Democrats who go against Bitcoin.

This is the point of the announcement. Democratic pro-bitcoin voices can push back on the elizabeth warren camp in ways the GOP can’t. As bitcoiners isn’t this what we want?

— Gordon Perkins (@peconicgp) September 23, 2025

Competition

The fight for a governor’s seat in 2026 is already considered a tough contest. Calderon is facing several noteworthy candidates, including Congresswoman Katie Porter from the Democratic Party and Republican Fox News contributor Steve Hilton.

Given that the election will take place on Nov. 5, Calderon may approve himself at some point. Yet, it is hard to say if his participation in the race makes a difference.

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September 28, 2025 0 comments

NFT Gaming

Ian Calderon Runs for California Governor, Vows to Make State ‘Undisputed Leader’ on Bitcoin

by admin September 24, 2025

In brief

Former California Assembly majority leader Ian Calderon has vowed to put Bitcoin on California’s balance sheet and back crypto payments for state programs as part of his bid for governor.
Calderon previously pushed blockchain policy through AB 2658 and worked with the Satoshi Action Fund.
Current bills, AB 1180 and AB 1052, stop short of allowing the state to hold Bitcoin directly.

Ian Calderon, a Democrat and former California Assembly majority leader, announced his candidacy for governor with a promise to put Bitcoin at the heart of state policy.

“California has always been a leader on technology. It’s time for us to get back to our roots and make California the undisputed leader on Bitcoin,” Calderon tweeted Tuesday.

California has always been a leader on technology. It’s time for us to get back to our roots and make California the undisputed leader on Bitcoin.

— Ian Calderon (@IanCalderon) September 23, 2025

Calderon has been a staunch advocate of the digital asset, confirming in a livestream earlier on the same day that, once elected, he would “make sure that we hold Bitcoin on our balance sheet” and support crypto payments for state programs.

In a separate campaign video, Calderon compared his positioning with the status quo.

“My generation pays bills on our phones, we send money to each other with Venmo and we save in Bitcoin,” Calderon said. “But the people running our government, they’re trying to use yesterday’s ideas to solve today’s problems, and it isn’t working.”

“Ambitious and daring”

Calderon’s statements are not without weight or work behind it.

Having left the Assembly in 2020 after three terms, he remained active in the policy space, including work with the Satoshi Action Fund in 2022 that explored legislation to consider Bitcoin as legal tender in the state. Calderon is also cited as a contributor in a 2020 roadmap developed by California’s Blockchain Working Group, a forum that produced policy recommendations on digital assets.

Much earlier in 2018, Calderon authored AB 2658, which created California’s Blockchain Working Group to evaluate the technology’s uses, risks, benefits, and legal implications for state government and businesses, define blockchain in statute, and develop policy recommendations including possible amendments to state law.

Calderon’s stance “shows that crypto has entered the mainstream, because candidates are now openly running on pro-crypto platforms and competing with one another,” Robert Boris Mofrad, co-founder of blockchain data storage firm Serenity, told Decrypt.

Yet whether the position is adopted or received “by the masses” would remain unclear, Mofrad noted. “But what we can understand is that crypto is now a serious part of the political conversation, one that began at the federal level with the idea of creating a reserve.”

“California putting Bitcoin on its balance sheet is quite an ambitious and daring position,” Mofrad said. “When it comes to a state such as California, the world’s fifth-largest economy, the situation is different.”

Because governments “usually treat Bitcoin as an intangible asset,” and must “record every loss in value but cannot really record gains,” such proposals make it “hard for a state treasury to manage responsibly,” he added.

California and crypto

Calderon’s campaign comes as California weighs incremental crypto legislation through two key legal frameworks.

AB 1180 would allow certain state agencies to pilot stablecoin payments for fees beginning in 2026, while AB 1052 brings crypto under the state’s unclaimed property law by requiring inactive custodial accounts to be transferred to the state and held in their original form.

Neither measure, however, would authorize California to purchase or hold Bitcoin directly, marking a clear distinction from Calderon’s proposal.

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September 24, 2025 0 comments

Game Reviews

Governor Points To Games And Memes In Radicalization Of Charlie Kirk Shooter

by admin September 15, 2025

The suspect in the Charlie Kirk shooting apparently likes video games. This makes him indistinguishable from over a billion other people across the planet, but in the eyes of some pundits and politicians, it’s evidence of the corrupting influence of our current online culture. Asked about the radicalization of the person allegedly responsible for the assassination, Utah Gov. Spencer Cox recently blamed “a lot of gaming going on” and “meme-ification” on places like Reddit.

Cox pointed to the inscriptions on bullets recovered from near the crime scene which have since gone viral. They include, among other things, a famous stratagem input for Helldivers 2 and a reference to the Italian anti-fascist anthem “Bella Ciao,” which some may know from singer Becky G’s 2021 remix but others might be more familiar with from the WWII strategy game Hearts of Iron IV (or, more specifically, its By Blood Alone DLC). He noted that he had no idea what any of these things meant. For him, up, right, down, down, down and possible furry memes are all part of the same incomprehensible and potentially dangerous cocktail of social media accelerationism.

Utah Gov. Cox: Kirk’s Killer Radicalized By Video Games, “Reddit Culture,” And “Meme-ification” Of Society

“Clearly there was a lot of gaming going on. Friends confirmed there was kind of that deep, dark internet, the Reddit culture, and these other dark places of the internet.” pic.twitter.com/9PFntfMEpP

— RCP Video (@rcpvideo) September 14, 2025

“Clearly, there was a lot of gaming going on, friends that have confirmed that there was kind of that deep, dark internet, Reddit culture and these other dark places of the internet where this person was going deep,” Cox said on Meet the Press yesterday when asked about the radicalization of suspected gunman Tyler Robinson. “You saw that on the casings, I didn’t have any idea what many of those inscriptions even meant, but certainly the meme-ification that is happening in our society today.”

As people search for meaning behind why Robinson allegedly went to Utah Valley University on September 10 to shoot the right-wing podcaster during a speaking event, they’re left rifling through generic pastimes and background noise for clues. A former high school classmates told CNN that the 22-year-old was “very, very big into gaming” and that he and friends “would spend their lunches playing the card games and all that kind of stuff.”

Meanwhile places like Discord, where people meet to play games together ranging from Fortnite to Pokémon, are being cast as internet meth labs where people cook their brains on edge-lord humor and GIFs. Take this ponderous logic to its ultimately boomer conclusion and you get people like Geraldo Rivera trying to defrost half-remembered moral panics from decades ago.

pic.twitter.com/nwZR4StZjD

— Zach Grimes (@GrimisS) September 14, 2025

“Whether Tyler Robinson faces a firing squad in Utah for the murder of Charlie Kirk, my guess is the accused killer will probably have been motivated more by Halo and similar fantasy role-play than by substantive political discord,” he posted on X over the weekend. “The game features Grunts vs Elites. I’m guessing nobody wants to be an elite.” Grok, is this true???

There is an epidemic of school shootings in this country. The increasing rate at which political violence is foregrounded in our democracy is alarming. So, too, is the way open bigotry is not just permitted in national debates but cheered on through platforms that profit off of fueling outrage. It would be not only nice for people to be able to talk about these issues with the level of seriousness they require, but indeed it feels increasingly urgent.

The internet is rife with concerning undercurrents of irony-pilled nihilism, cultural atomization, and hopelessness. They don’t call them brain worms for nothing. The popularity of Discord, Helldivers 2, and Halo are not the problem, but talking about them as if they are is certainly a symptom of the underlying causes.

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September 15, 2025 0 comments

Crypto Trends

Trump Appeals Fed Governor Cook Case As New Evidence Emerges

by admin September 15, 2025

United States President Donald Trump has filed an appeal in the case involving Federal Reserve Governor Lisa Cook ahead of a key interest rate decision by the central bank this week.

Lawyers representing the Department of Justice on behalf of the President have appealed against a preliminary injunction issued by the district court on Sept. 9, regarding Trump’s decision to remove Cook from office.

The administration argues that removal “for cause” is “a capacious standard that Congress has vested in the President’s discretion” and is not subject to judicial review.

“When a statute gives a power of removal ‘for cause,’ without any specification of the causes, the removal decision is a matter of discretion and not reviewable,” it stated.

President Trump attempted to remove Cook on Aug. 25 based on alleged “deceitful and potentially criminal conduct” concerning mortgage agreements, citing apparent misrepresentations in loan documents. Cook challenged this removal, arguing it exceeded presidential authority and violated her due process rights.

The case has led to a significant legal battle over presidential removal powers and renewed concerns over the Fed’s independence, raising questions over the reliability of the US dollar.

New documents back Cook’s case

However, new evidence appears to have emerged that directly contradicts the Trump administration’s mortgage fraud claims.

A May 2021 loan summary states that Cook’s Atlanta property was used for a vacation home, supporting her position that she properly disclosed it as a second home, not her primary residence, according to an NBC report on Saturday.

The documents could mean that there may be no actual misrepresentation in her mortgage applications, weakening the government’s arguments.

Related: All roads lead to inflation: Fed cut or not, Bitcoin may stand to gain

Fed rate decision looms

Trump’s appeal comes a few days before a key Federal Reserve interest rate decision on Wednesday.

The Fed is expected to unanimously cut rates this week for the first time since December 2024.

Interest rates have been high in the US since early 2022. Source: TradingEconomics

CME futures markets project a 96.4% probability of a 25 basis point cut to 4.0% to 4.25% on Wednesday and a 3.6% chance of a larger 50 basis point cut.

“Yes, you’re going to get your rate cut out there in trading land,” RSM chief economist Joe Brusuelas told Yahoo Finance, before adding that economic data doesn’t suggest that there will be three cuts before the end of the year.

Fed set to cut rates this week…

With stocks at record highs.

Credit spreads near record lows.

Gold at record highs.

Bitcoin near record highs.

— Nate Geraci (@NateGeraci) September 14, 2025

Meanwhile, BlackRock executive Rick Rieder is climbing the list of contenders to serve as the next Fed chair after Jerome Powell’s term expires in May, according to Bloomberg.

Magazine: XRP to retest highs? Bitcoin won’t go sideways for long: Hodler’s Digest

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September 15, 2025 0 comments

GameFi Guides

BoE Governor Shares ‘Multi-Money’ Vision

by admin September 5, 2025

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Bank of England (BoE) Deputy Governor for Financial Stability has shared her vision for a “multi-money” system that includes stablecoins and other traditional assets in the UK ahead of the upcoming consultation on its crypto policy proposals.

BoE Eyes ‘Multi-Money’ System With Stablecoins

On Wednesday, Bank of England Deputy Governor Sarah Breeden affirmed that the central bank must keep up with the global developments as innovative technology paves new ways of making pavements.

In a conference in London, Breeden detailed her vision for a system where multiple forms of money, including traditional and tokenized commercial bank deposits, stablecoins, and central bank money, are freely interchangeable, “with technology driving faster, cheaper, and more innovative payments for the benefit of business, households, and users of financial markets; and – critically – with the whole system underpinned by trust in money itself.”

To achieve this, the deputy governor outlined that the BoE must provide the necessary underlying infrastructure, deliver proper regulatory frameworks, and establish an overall strategy to facilitate innovation and economic growth while protecting financial stability.

She emphasized the need for a robust regulatory framework that enables innovation to thrive, as appropriate risk management will support broader adoption and the sector’s development. However, Breeden noted that designing those regulatory regimes in a fast-moving world isn’t an easy task, forcing officials to be open to “learning as we go.”

According to Bloomberg, the deputy governor also stated that UK officials have “an eye” on US regulation following the enactment of the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act in July.

“US dollar stable coins will have an influence all around the world,” she affirmed, adding that it is “absolutely essential that we produce a regime that supports the issuance of sterling stablecoins.”

She noted that “stablecoins, for a long time the preserve of crypto markets, are beginning to go ‘mainstream’. Given they are an existing form of ‘digitally native’ money, their safe adoption could unlock faster, cheaper settlement for cross-border transactions as well as supporting trading of tokenised securities.”

Crypto Regime Consultation In Q4

During her speech, Breeden highlighted that the UK “set out the necessary legislation for a regulatory regime for stablecoins in 2023,” while the BoE and the Financial Conduct Authority (FCA) have been engaging with the industry to develop more detailed rules of that regime.

Notably, the FCA has been working to establish a more comprehensive regulatory framework for digital assets starting next year, releasing a Discussion Paper on the features of the upcoming crypto regime as part of its crypto roadmap.

The HM Treasury has also published a draft of proposed provisions to establish a complete regime for cryptocurrencies, which are expected to set clear transparency, consumer protection, and operational resilience standards.

Nonetheless, the UK’s former Chancellor of the Exchequer, George Osborne, has criticized the government’s approach, affirming that they must “catch up” or risk being “left behind” during the second crypto wave.

As reported by Bitcoinist, Osborne slammed Chancellor Rachel Reeves and Bank of England governor Andrew Bailey’s crypto strategy, noting that, some of the proposed rules, including requiring sterling stablecoins to be backed only by central bank reserves, guarantee that the UK doesn’t lead the sector, as major financial players will continue to innovate “regardless of the Bank of England’s stance.”

Nonetheless, BoE’s deputy governor affirmed that the central bank has been listening to feedback on its proposals for a regulatory regime for systemic stablecoins, like allowing the digital assets to hold a portion of their backing assets in a subset of high-quality liquid assets (HQLA), such as short-dated government securities.

This change aims to address feedback that the initial approach “would not support the predominant business model amongst stablecoin issuers, which relies on income from backing assets.”

Breeden added that the BoE will set out some of the reviewed proposals for consultation later this year before finishing its regime.

Bitcoin (BTC) trades at $109,431 in the one-week chart. Source: BTCUSDT on TradingView

Featured Image from Unsplash.com, Chart from TradingView.com

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September 5, 2025 0 comments

NFT Gaming

‘Nothing Scary’ About Crypto, Federal Reserve Governor Says

by admin August 20, 2025

In brief

Federal Reserve Governor Christopher Waller said stablecoins have the potential to improve retail and cross-border payments.
He acknowledged some fear and skepticism toward innovation in payments.
The Fed is researching tokenization, he said.

Using cryptocurrencies to facilitate ordinary payments should be no more intimidating than swiping a debit card, Federal Reserve Governor Christopher Waller said on Tuesday.

“There is nothing to be afraid of when thinking about using smart contracts, tokenization, or distributed ledgers in everyday transactions,” he said in a speech at the Wyoming Blockchain Symposium in Teton Village, Wyoming. “This is simply new technology.”

Waller described stablecoins as a continuation of advancements in payments, pointing to the early days of physical cards that lacked magnetic strips or chips. Stablecoins have evolved from their original purpose, he acknowledged, but “have the potential to improve retail and cross-border payments,” while also making it easier to access the U.S. dollar globally.

“As the stablecoin market matured, firms found that the properties of stablecoins using distributed ledger technology—including 24/7 availability, fast transferability, and their freely circulating nature—could be attractive for other use cases as well,” he said.

Waller, who was appointed during U.S. President Donald Trump’s first term, told The Wall Street Journal last month that he would accept a role as Fed Chair if asked. He also dissented from the central bank’s decision to hold rates steady in July for a fifth straight meeting, calling for a quarter-percentage-point rate cut alongside governor Michelle Bowman.

On Tuesday, Bowman gave her own address at the Wyoming confab, saying “you don’t need a tech background to appreciate the opportunity that blockchain provides to the financial system.”

Waller recognized on Wednesday that some have “been fearful or skeptical of innovation” in the payments space, but he underscored that “there is nothing scary” about crypto transactions just because they take place within the realm of decentralized finance.

The GENIUS Act’s passage created a federal framework for stablecoin issuers, and Waller said that this could help dollar-pegged tokens “reach their full potential” in the U.S.

Although his comments were geared toward private-sector innovation, Waller’s remarks follow the debut of Wyoming’s stablecoin earlier this week. Revenue generated from the token’s reserve is expected to go toward the state’s school foundation fund.

The Fed has played a role in supporting payments technology by providing infrastructure for clearing and settlement to financial institutions. That has been the case since the central bank’s early days, Waller noted.

As stablecoins become ingrained in the financial world, Waller said the Fed is conducting research on tokenization, smart contracts, and artificial intelligence in payments. Although conservatives have warned against the dangers of a dollar-pegged token issued by the Fed, Waller did not explicitly reference Central Bank Digital Currencies.

“It is important to understand trends in payments technology so that we can continue to support private sector firms that leverage our infrastructures, as well as understand whether emerging technologies could provide opportunities to improve our existing platforms and services,” he said.

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August 20, 2025 0 comments

NFT Gaming

Federal Reserve Governor Calls For Regulators To Embrace Crypto

by admin August 20, 2025

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Federal Reserve (Fed) Governor Michelle Bowman is urging US regulators to abandon their “overly cautious mind-set” regarding cryptocurrencies, blockchain technology, and artificial intelligence (AI).

Speaking at the Wyoming Blockchain Symposium, Bowman emphasized the need for a proactive approach to adapt to emerging technologies, marking a departure from the more conservative stance of previous regulatory bodies.

Bowman Advocates For Flexible Oversight

Bowman, who was nominated to the Federal Reserve Board by President Donald Trump in 2018 and appointed as Vice Chair for Supervision earlier this year, stated, “Despite this past inertia, change is coming.”

She underscored the importance of choosing to embrace this change and creating a regulatory framework that is both reliable and efficient. “We must ensure safety and soundness while incorporating the benefits of speed and efficiency,” she asserted.

The choice is clear from a regulator’s perspective: we can either stand still and let new technology bypass the traditional banking system or help shape its future.

A key topic in her address was the recently passed GENIUS Act, which regulates stablecoins. This legislation, signed into law by President Trump, has positioned stablecoins at the forefront of discussions about the future of the financial system.

According to Bowman, dollar-pegged cryptocurrencies have the potential to disrupt traditional payment infrastructures while offering new opportunities for the banking sector.

In addition to discussing stablecoin regulation, Bowman revealed that she is working on plans to adjust banks’ regulatory commitments according to their size and complexity.

Fed’s Discontinuation Of Crypto Oversight Program

The Federal Reserve also disclosed last week the discontinuation of its “novel activities” supervision program, which was designed to monitor banks’ interactions with the cryptocurrency and fintech sectors.

This program, launched in 2023, faced criticism for imposing significant restrictions on banks engaging with digital assets. The Fed has determined that such specialized oversight is no longer necessary, citing an improved understanding of the risks involved and how banks can effectively manage these challenges.

As reported by Bitcoinist, the central bank’s move is part of a broader effort to align with President Donald Trump’s vision of making America the “crypto capital of the world.”

By incorporating digital asset oversight into its conventional bank supervision framework, the Federal Reserve aims to foster an environment that supports innovation in the financial sector.

Speculation about Bowman’s future role has also emerged, with her name mentioned as a potential successor to current Fed Chair Jerome Powell when his term concludes in May 2026. However, during a recent Bloomberg interview, she deflected questions about her aspirations for that position.

Governor Bowman’s remarks and the regulatory changes she advocates reflect a pivotal moment for the US financial landscape, as regulators seek to balance innovation with the need for safety and stability in the banking system.

The daily chart shows the total crypto market cap at $3.76 trillion. Source: TOTAL on TradingView.com

Featured image from DALL-E, chart from TradingView.com

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August 20, 2025 0 comments

NFT Gaming

Illinois Governor Slams Trump’s Crypto Backers While Signing New Rules

by admin August 19, 2025

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Illinois on Monday approved two new laws that give state regulators stronger tools to police crypto businesses and curb scams at cash-to-crypto kiosks.

The governor used the moment to criticize US President Donald Trump for recent federal moves that, according to his office, loosen protections for consumers.

State Gives Regulator New Powers

SB 1797 hands the Illinois Department of Financial and Professional Regulation authority to supervise digital-asset exchanges and related firms.

“While the Trump Administration is letting crypto bros write federal policy, Illinois is implementing common-sense protections for investors and consumers,” Governor JB Pritzker said.

While Trump lets crypto bros write federal policy, Illinois is implementing common-sense protections for investors and consumers.

Today, I’ve signed into law first-of-their-kind safeguards in the Midwest for cryptocurrency and other digital assets.

We won’t tolerate fraudsters.

— Governor JB Pritzker (@GovPritzker) August 18, 2025

According to lawmakers, the measure forces companies to hold enough money, put up cybersecurity and anti-fraud systems, make clear investment disclosures, and meet customer service standards similar to other financial services.

The bill passed the state Senate in April and will make it clearer who answers to state rules and who does not.

Kiosk Rules Aim To Curb Scams

The second law, SB 2319, targets cryptocurrency kiosks and ATMs. Reports have disclosed several concrete limits: operators must register with regulators, kiosks must offer full refunds to qualifying scam victims, transaction fees can’t exceed 18%, and new customers face a $2,500 daily limit.

Those specific numbers are meant to slow down bad actors and give people a clearer path if they’re cheated. State lawmakers and consumer advocates have said those steps are long overdue.

BTCUSD trading at $115,077 on the 24-hour chart: TradingView

A Political Line Drawn

Pritzker used his signing remarks to draw a contrast with Washington. Based on reports from the governor’s office, he accused the federal government of stepping back from protections after an April signing that overturned a revised IRS rule about who counts as a broker in decentralized finance.

“At a time when fraudsters continue to evolve and consumer protections are being eroded at the federal level, Illinois is sending a clear message that we won’t tolerate taking advantage of our people and their hard-earned assets,” Pritzker said.

He framed the state laws as a direct response to growing fraud and a federal posture he sees as friendlier to industry players than to everyday users.

Featured image from ABC News, chart from TradingView

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August 19, 2025 0 comments