SB2319 - 104th General Assembly (2025-2026)

VIRTUAL CURRENCY CONSUM PROT
Last Action
08/18/2025 - Senate: Public Act . . . . . . . . . 104-0429
Statutes Amended In Order of Appearance
New Act  
Synopsis As Introduced
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.

Senate Floor Amendment No. 1
Adds reference to:
30 ILCS 105/5.1030 new  
Replaces everything after the enacting clause. Creates the Digital Asset Kiosks Act. Sets forth provisions concerning the general powers and duties of the Department of Financial and Professional Regulation in administering and enforcing registrations for digital asset kiosk operators and transactions. Provides that moneys collected by the Department under the Act shall be deposited into the Digital Asset Kiosk Fund. Establishes transaction and charge limits on digital asset kiosk operators. Requires disclosures for digital asset kiosk operators before engaging in each digital asset kiosk transaction with a customer and requires operators to report the physical location of digital asset kiosks. Requires digital asset kiosk operators to issue refunds for fraudulent transactions at the request of a new customer within the new customer period. Requires digital asset kiosk operators to register with the Department and sets forth provisions concerning renewal and refusal of registration. Establishes surety bond and tangible net worth requirements for registrants. Provides a private right of action for violations of the Act. Exempts specified entities from the requirements of the Act. Provides that, if and only if House Bill 742 of the 104th General Assembly becomes law in the form in which it passed the House on April 10, 2025, then the Digital Asset Kiosks Act is amended by repealing the specified provisions of the Act. Amends the State Finance Act to create the Digital Asset Kiosk Fund. Effective immediately.

Senate Floor Amendment No. 3
In provisions concerning refunds for new customers, provides that, to receive a refund, a new customer must, within 60 days after the last transaction to occur during the new customer period, submit a police report or government agency report of the transaction or transactions (rather than proof of the fraudulent transaction or transactions) to the digital asset kiosk operator. Makes conforming changes to provisions concerning refunds for existing customers. Provides that a claim of violation of specified provisions of the Act (rather than a claim of violation of the Act) may be asserted in a civil action. Provides that a prevailing resident (rather than a prevailing person, other than a digital asset kiosk operator) may be awarded reasonable attorney's fees and court costs.

House Floor Amendment No. 1
Removes certain provisions from claims of violation that may be asserted in a civil action. Provides that, if and only if Senate Bill 1797 of the 104th General Assembly, as amended by House Amendment No. 1, becomes law, then specified provisions of the Act are repealed on the date that Senate Bill 1797 of the 104th General Assembly becomes law. Makes a conforming change in provisions amending the State Finance Act.
Actions
DateChamberAction
02/07/2025SenateFiled with Secretary by Sen. Laura Ellman
02/07/2025SenateFirst Reading
02/07/2025SenateReferred to Assignments
03/04/2025SenateAssigned to Executive
03/05/2025SenateAdded as Co-Sponsor Sen. Mark L. Walker
03/07/2025SenateAdded as Co-Sponsor Sen. Karina Villa
03/21/2025SenateRule 2-10 Committee Deadline Established As April 4, 2025
04/03/2025SenatePostponed - Executive
04/04/2025SenateRule 2-10 Committee Deadline Established As April 11, 2025
04/09/2025SenateDo Pass Executive; 012-001-000
04/09/2025SenatePlaced on Calendar Order of 2nd Reading April 10, 2025
04/10/2025SenateSecond Reading
04/10/2025SenatePlaced on Calendar Order of 3rd Reading April 11, 2025
04/11/2025SenateRule 2-10 Third Reading Deadline Established As May 9, 2025
05/07/2025SenateSenate Floor Amendment No. 1 Filed with Secretary by Sen. Laura Ellman
05/07/2025SenateSenate Floor Amendment No. 1 Referred to Assignments
05/07/2025SenateSenate Floor Amendment No. 1 Assignments Refers to Executive
05/08/2025SenateSenate Floor Amendment No. 1 Recommend Do Adopt Executive; 008-003-000
05/09/2025SenateRule 2-10 Third Reading Deadline Established As May 23, 2025
05/15/2025SenateAdded as Co-Sponsor Sen. Christopher Belt
05/15/2025SenateAdded as Co-Sponsor Sen. Mary Edly-Allen
05/16/2025SenateAdded as Co-Sponsor Sen. Mike Porfirio
05/16/2025SenateSenate Floor Amendment No. 2 Filed with Secretary by Sen. Laura Ellman
05/16/2025SenateSenate Floor Amendment No. 2 Referred to Assignments
05/19/2025SenateAdded as Co-Sponsor Sen. Doris Turner
05/20/2025SenateSenate Floor Amendment No. 2 Assignments Refers to Executive
05/20/2025SenateSenate Floor Amendment No. 3 Filed with Secretary by Sen. Laura Ellman
05/20/2025SenateSenate Floor Amendment No. 3 Referred to Assignments
05/21/2025SenateSenate Floor Amendment No. 3 Assignments Refers to Executive
05/21/2025SenateAdded as Co-Sponsor Sen. Sara Feigenholtz
05/21/2025SenateSenate Floor Amendment No. 3 Recommend Do Adopt Executive; 009-004-000
05/22/2025SenateRecalled to Second Reading
05/22/2025SenateSenate Floor Amendment No. 1 Adopted; Ellman
05/22/2025SenateSenate Floor Amendment No. 3 Adopted; Ellman
05/22/2025SenatePlaced on Calendar Order of 3rd Reading
05/22/2025SenateThird Reading - Passed; 039-019-000
05/22/2025SenateSenate Floor Amendment No. 2 Tabled Pursuant to Rule 5-4(a)
05/22/2025HouseArrived in House
05/22/2025HouseChief House Sponsor Rep. Curtis J. Tarver, II
05/22/2025HouseFirst Reading
05/22/2025HouseReferred to Rules Committee
05/22/2025HouseAdded Alternate Co-Sponsor Rep. Natalie A. Manley
05/23/2025SenateAdded as Co-Sponsor Sen. Laura M. Murphy
05/27/2025SenateAdded as Co-Sponsor Sen. Graciela Guzmán
05/28/2025HouseAssigned to Financial Institutions and Licensing Committee
05/28/2025HouseMotion Filed to Suspend Rule 21 Financial Institutions and Licensing Committee; Rep. Bob Morgan
05/28/2025HouseMotion to Suspend Rule 21 - Prevailed 070-039-000
05/28/2025HouseCommittee/Final Action Deadline Extended-9(b) May 31, 2025
05/29/2025HouseDo Pass / Short Debate Financial Institutions and Licensing Committee; 008-004-000
05/29/2025HousePlaced on Calendar 2nd Reading - Short Debate
05/29/2025HouseHouse Floor Amendment No. 1 Filed with Clerk by Rep. Curtis J. Tarver, II
05/29/2025HouseHouse Floor Amendment No. 1 Referred to Rules Committee
05/29/2025HouseSecond Reading - Short Debate
05/29/2025HouseHeld on Calendar Order of Second Reading - Short Debate
05/30/2025HouseHouse Floor Amendment No. 1 Rules Refers to Financial Institutions and Licensing Committee
05/30/2025HouseHouse Floor Amendment No. 1 Recommends Be Adopted Financial Institutions and Licensing Committee; 008-004-000
05/31/2025HouseHouse Floor Amendment No. 1 Adopted
05/31/2025HousePlaced on Calendar Order of 3rd Reading - Short Debate
05/31/2025HouseThird Reading - Short Debate - Passed 081-036-000
05/31/2025SenateSecretary's Desk - Concurrence House Amendment(s) 1
05/31/2025SenatePlaced on Calendar Order of Concurrence House Amendment(s) 1 - May 31, 2025
05/31/2025SenateHouse Floor Amendment No. 1 Motion to Concur Filed with Secretary Sen. Laura Ellman
05/31/2025SenateHouse Floor Amendment No. 1 Motion to Concur Referred to Assignments
05/31/2025SenateHouse Floor Amendment No. 1 Motion to Concur Assignments Referred to Executive
05/31/2025SenateAdded as Chief Co-Sponsor Sen. Mattie Hunter
05/31/2025SenateHouse Floor Amendment No. 1 Motion To Concur Recommended Do Adopt Executive; 009-004-000
06/01/2025Senate3/5 Vote Required
06/01/2025SenateHouse Floor Amendment No. 1 Senate Concurs 039-018-000
06/01/2025SenateSenate Concurs
06/01/2025SenatePassed Both Houses
06/30/2025SenateSent to the Governor
08/18/2025SenateGovernor Approved
08/18/2025SenateEffective Date August 18, 2025
08/18/2025SenatePublic Act . . . . . . . . . 104-0429