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DegenYieldFarmer

Illinois’s latest 0.2% transaction tax doesn’t even spare transfers between personal wallets—truly treating DeFi users like ATMs.

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CoinNetwork
Illinois signs the strictest anti-encryption legislation in the United States
Illinois Governor signs SB 3019, setting the Digital Asset Privilege Tax Act as a routine daily 0.2% cryptocurrency transaction tax. There is no exemption for non-commercial activities, and transfers between personal wallets will also be taxed. The Innovation Crypto Committee warns that this law will severely harm the local economy and is unfair to ordinary crypto users, while traditional financial participants will not be affected. Renowned lawyer Miles Jennings says this move threatens decentralized infrastructure and may violate federal law.
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