CFTC Chair Slams Illinois' 0.2% Crypto Transaction Tax

According to CFTC Chair Michael Selig, Illinois approved a 0.2% tax on crypto transactions last month as part of its FY2027 budget, with the Digital Asset Tax Act scheduled to take effect in January 2027. Selig criticized the measure, saying Illinois lawmakers "slammed the brakes on technological progress." The CFTC leader framed the tax as conflicting with federal efforts to establish a unified national crypto market framework, warning that state-level levies could fragment compliance requirements for exchanges and trading firms operating across multiple jurisdictions.
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