Crypto Industry Slams Illinois' New Digital Asset Tax As 'Most Punitive' In U.S.

Bitcoin Magazine Editorial

(01:33 PM UTC)

1 min read

Illinois Governor JB Pritzker signed Senate Bill 3019 into law yesterday, making Illinois the first state in the country to impose a transaction-based tax on crypto. This move drew swift condemnation from crypto industry groups who had urged him to strike the provision before his pen hit the paper.

The Digital Asset Privilege Tax Act, tucked inside a 1,624-page revenue bill that forms part of…

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