Illinois consumers have received more than $750,000 in refunds under a state law regulating cryptocurrency kiosks, the Illinois Department of Financial and Professional Regulation announced Monday.
The agency said kiosk operators have refunded money to consumers who reported being victims of scams or fraud involving digital asset kiosks since the Digital Asset Kiosks Act, known as DAKA, took effect last year.
Since the law was signed in August 2025, kiosk operators have received 453 refund requests from Illinois consumers and granted refunds totaling $750,206.61, an average of $1,656 per refund, according to IDFPR.
"When we put meaningful protections in place, we expect those protections to make a difference in the lives of Illinoisans," said IDFPR Secretary Mario Treto, Jr. "More than $750,000 returned to consumers is a clear indication that the Digital Asset Kiosks Act is doing exactly what it was intended to do. IDFPR will continue its efforts to demonstrate that innovation and consumer protection can, and should, go hand in hand."
IDFPR Regulatory Innovation Officer Jake Hamilton said the growth of the kiosks has given consumers easy access to digital assets but that access must come with safeguards. "IDFPR will continue working with consumers and regulated businesses to ensure compliance with digital asset law in Illinois and to protect consumers from scams," he said.
What the law requires
DAKA established new requirements for kiosk operators, including reporting of kiosk locations and consumer protections aimed at fraud and scams. A key provision requires operators to provide full refunds to new customers who are victims of scams conducted through the kiosks, subject to the law's requirements.
The law also set a transaction fee cap of 18 percent at digital asset kiosks and limits daily transaction amounts for new customers to $2,500. IDFPR said those provisions are meant to protect consumers who may be unfamiliar with the kiosks and the risks of digital asset transactions.
How the scams work
While some kiosks let users sell cryptocurrency for cash, most customers use them to buy cryptocurrency with cash and send it to a digital wallet, the agency said. Scammers exploit the ease of these transactions to direct victims to send funds to wallets controlled by the scammers, which can be located anywhere in the world. Victims do not need to already own cryptocurrency to be targeted.
IDFPR said that although operators have added safeguards and disclosures, scammers often coach victims on how to bypass those protections.
How to get a refund
Consumers who believe they may have been the victim of a scam involving a digital asset kiosk can request a refund by reporting the fraud to the operator within 30 days of the transaction and providing a police report to the operator within 60 days of the transaction.
IDFPR also encourages consumers to report the matter by filing a complaint on the agency's website at idfpr.illinois.gov. More information on digital assets and regulation in Illinois, including a list and map of kiosk locations, is available on the IDFPR Digital Assets webpage.
State Sen. Laura Ellman, D-Naperville, said the law grew out of Senate Bill 2319. "Illinois has put stronger consumer protections in place, and we're seeing results: people are getting money back, and operators are being held accountable," she said.
State Rep. Curtis J. Tarver II, D-Chicago, said the law was about giving people a meaningful way to recover their money. "The fact that more than 450 consumers have already requested refunds and more than $750,000 has been returned shows why this law was needed," he said.
Source: the original release