Illinois governor approves crypto transaction tax despite industry uproar
CoinTelegraph·
60-second summary
The Illinois governor has approved a crypto transaction tax, sparking industry uproar, with venture capital firm a16z's general counsel Miles Jennings stating there's no comparable state financial transaction tax on stocks, bonds, or derivatives nationwide, raising concerns about unfair treatment and potential market distortions, which may impact crypto market liquidity and investor confidence.
“There is effectively no comparable state financial transaction tax on stocks, bonds or derivatives anywhere in the country,” said a16z general counsel Miles Jennings.