CFTC’s Mike Selig Says Illinois Crypto Tax Could Push Innovation Elsewhere

TLDR: Illinois approved a 0.2% tax on certain crypto asset transfers regardless of realized gains. CFTC chair Mike Selig argued that equivalent non-crypto transactions would avoid similar tax treatment. The proposal emerged as Congress continues deliberations over the CLARITY Act framework. Selig said blockchain technology could transform transfers involving stocks, bonds, and currencies. Illinois lawmakers [...]

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