CFTC’s Selig says Illinois lawmakers ‘decided they know better’ on crypto tax
The Block·
60-second summary
CFTC Chair Michael Selig sharply criticizes Illinois' decision to impose a 0.2% tax on crypto transactions, stating lawmakers "decided they know better" on the matter. This move is seen as an overreach of state authority, potentially creating a patchwork of regulations across the US. Market implications remain uncertain, but regulatory clarity is crucial for crypto's growth.
CFTC Chair Michael Selig sharply criticized Illinois' decision to pass a law that puts into place a 0.2% tax on crypto transactions.