CFTC Chair Selig Criticizes Illinois 0.2% Crypto Tax, Says State 'Decided They Know Better'

According to CFTC Chair Michael Selig, the Commodity Futures Trading Commission sharply criticized Illinois' decision to pass the Digital Asset Tax Act last month, which imposes a 0.2% tax on crypto transactions. Selig said Illinois lawmakers "slammed the brakes on technological progress" and placed constituents at a significant disadvantage, warning the state risks missing out on innovation and diverging from federal regulatory efforts. The tax is scheduled to take effect in January 2027. Selig added that Illinois lawmakers "decided they know better" than federal policymakers working on crypto market clarity.
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