Crypto industry aghast at Illinois’ new tax on holding or transferring digital assets in state budget – CoinDesk

"One of the most anti-crypto laws in the U.S.," says one critic.
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MsT
2 months ago

Per the article, quoting the law, “digital asset business activity” is defined as “any single occurrence of exchanging, transferring or storing a digital asset as part of a business or on behalf of a customer.” Does this include ATM activity, ACH transactions including bill payments or gifts, gift cards? Is the tax applied twice, once for the sale or transfer and once for the receipt of the transferred asset? Or in the case of gift cards, several times—twice on the purchase (issuer and purchaser of the card) and once (or twice?) when the gift card is used? Is using a… Read more »

Mark F
2 months ago
Reply to  MsT

What is the difference between an Illinois politician and a prostitute? There are some things a prostitute will not do for money…not so much an Illinois politician.

Morefandave
2 months ago

Tax. It’s what we do in Illinois.We’re the best at fleecing our citizens, largely for the benefit of our non-citizens.

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