Illinois lawmakers passed a new budget at 4 AM, buried inside: a new crypto tax.
If you're in Illinois, crypto transactions just got more expensive.
Illinois crypto owners, did anyone ask you?
Protect your right to own and use crypto. Contact the Governor today 👇
Seven crypto tax drafts just dropped from the House Ways and Means Committee.
Staking. Mining. Wash sales. Lending. Charitable giving. Disclosure reform.
Eyes on Tuesday's hearing.
🚨SCOOP: The House Ways and Means Committee is circulating a package of SEVEN digital asset tax discussion drafts that would overhaul how crypto is taxed in the U.S.
The bills tackle everything from stablecoin transactions, mining and staking, crypto lending and wash sale rules to charitable donations and a voluntary disclosure program for taxpayers with past digital asset reporting issues.
The move effectively breaks apart the broader Miller-Horsford Digital Asset PARITY Act, as well as similar legislation introduced last year by @SenLummis, into a series of standalone proposals.
The drafts will likely feature prominently at Tuesday’s scheduled Ways and Means hearing on crypto taxation.
Make your voice heard, Illinois.
Email Governor Pritzker now to veto SB 3019 and support innovation, consumer choice, and economic opportunity in Illinois 👇
https://t.co/HzpnfhqSRm
Illinois' proposed 0.2% digital asset tax would negatively impact residents and businesses at a time when digital asset adoption and innovation are accelerating.
No other state has imposed a similar tax, and the lack of stakeholder engagement surrounding this proposal raises significant concerns. The Digital Chamber recently joined the Illinois Blockchain Association in a letter urging the legislature to reconsider this measure.
Read our full letter: https://t.co/ppKjrpz7r6
Illinois lawmakers passed a new budget at 4 AM, buried inside: a new crypto tax.
If you're in Illinois, crypto transactions just got more expensive.
Illinois crypto owners, did anyone ask you?
Protect your right to own and use crypto. Contact the Governor today 👇
Make your voice heard, Illinois.
Email Governor Pritzker now to veto SB 3019 and support innovation, consumer choice, and economic opportunity in Illinois.
https://t.co/HzpnfhqSRm
Our Wisconsin Chapter President, @CullahMusic, brought together policymakers, industry leaders, and community members last week for a serious conversation on digital asset policy in Wisconsin.
Proud to have Cullah representing Wisconsin and pushing this conversation forward 🛡️
Thank you, Wausau! 🙏
Our Digital Asset Policy Forum brought founders, advisors, and a Congress candidate together on Wisconsin's digital asset future.
Thanks to sponsor @StandWithCrypto, @ETFProfessor of @tidalfg, and moderator @CullahMusic.
More at https://t.co/xgsgwHK9Nw
And there it is… the very first state stablecoin framework of the GENIUS era, in my sweet home, Alabama.
I had the honor of joining Gov. Ivey, bill sponsor Rep. Shaw & Securities Commission Director Senn for the signing ceremony at the state capitol today.
Proud to have our Maryland chapter president @gilbert787 on the Hill making the case for crypto.
Not only is the Clarity Act is good for the crypto community — it's good for law enforcement, oversight, and keeping digital asset activity securely in the U.S 🛡️
Our Law Enforcement & National Security Fly-In continues on Capitol Hill today as we meet with 18 Senate offices.
This afternoon, BA hosted a lunch briefing for congressional staff focused on how the Clarity Act strengthens law enforcement tools, improves oversight of digital asset markets, and helps bring more activity within U.S. regulatory guardrails.
Thank you to everyone who joined the discussion.
The Clarity Act is competing for floor time against reconciliation, FISA, and more.
The window is open, but it won't be for long.
Contact your Senator today and ask them to make crypto legislation a priority.
Join me at Modern Finance: NYC during NY Tech Week as we bring together leaders from tech, Wall Street, venture capital, and digital assets to discuss what's next for finance across the U.S. and Latin America.
Looking forward to seeing old friends and meeting new ones.
📅 June 5 | 12PM–3PM
🎟 RSVP: https://t.co/4REEYv7iz5
Hosted by @RayoCapital in partnership with @standwithcrypto and ALPFA NY
.@SenLummis is right.
The Clarity Act protects consumers by giving digital assets clear rules of the road and ending the confusion that bad actors exploit.
It’s time to get the Clarity Act to President Trump’s desk and not let big banks water it down to protect their own turf.
I signed this letter with honor.
As a veteran, I understand firsthand the importance of secure communications and encrypted technologies. Our ability to communicate securely gave us an advantage over our adversaries, helped us accomplish the mission, and, in many cases, saved lives.
Today, we face a new strategic challenge: maintaining America’s leadership in the digital economy.
The U.S. dollar remains the world’s most trusted and powerful currency. To preserve that position in an increasingly digital financial system, we must support the adoption and deployment of dollar-backed stablecoins.
For generations, the United States has led the world in telecommunications, technology, innovation, and financial markets. The next chapter of that leadership will depend on the decisions we make today.
America led the telecommunications era. We helped build the internet era. We should lead the digital asset era as well.
That’s why I support the CLARITY Act.
1/ Today, we’re sending a letter to Senate Majority Leader Thune and Senate Democratic Leader Schumer signed by 160 former national security, intelligence, and law enforcement professionals in support of the Clarity Act.
https://t.co/1lSQkoaaXI
Every day the Clarity Act stalls, America misses out on job growth.
Developers, founders, and builders aren't waiting; they're relocating to countries that actually have rules.
America is the home for innovation, and we need to stay that way.
We need to pass the Clarity Act.
The banking lobby has officially declared its opposition to the Clarity Act.
JPMorgan CEO Jamie Dimon went on national television this week and promised to fight the bill: "The banks will not accept it."
Here's what's at stake and what you can do about it. 🧵👇