Crypto Dobalina

[Crypto Dobalina @crypto_dobalina]

@omslyxons @PipoEXL You are poorly suited for survival as a biological entity on this planet.

[Crypto Dobalina @crypto_dobalina]

@JimJones69_ @slurricaneeee @Cernovich Ironic, since it's precisely Communism that is demonstrably civilization ending.

[Bitcoin News @BitcoinNewsCom]

🚨 ILLINOIS MOVES TO REPEAL AGGRESSIVE BITCOIN TAX JUST DAYS AFTER PASSAGE

Illinois lawmakers have introduced HB5798, a bill that would fully repeal the state’s controversial Digital Asset Tax Act.

The legislation, filed by Rep. John Cabello on June 22, would eliminate the tax on the exchange, transfer, and storage of digital assets if passed.

The move comes just days after Illinois approved one of the most aggressive state-level taxes on digital asset activity in the United States.

[Roman Helmet Guy @romanhelmetguy]

Pizarro didn’t conquer a single country until he was 54. It’s never too late.

[Autism Capital 🧩 @AutismCapital]

So you know this is a 0.2% tax on EVERY transaction you make. No matter what. Including transferring between wallets that YOU control. It’s also a 0.2% tax on ANY CRYPTO YOU HAVE. Not on gains. On ANY AMOUNT you have. Illinois has lost their fucking minds.

[Darren Bailey @DarrenBaileyIL]

Taxing transfers between your own personal wallets is straight-up theft.

Added to the list of taxes to axe. 🪓

[Frank Corva @frankcorva]

YIL that Illinois governor J. B. Pritzker, who just signed a bill that mandates a 0.2% tax on companies transacting with or storing crypto, once had five toilets removed from his second mansion as part of a tax fraud scheme.

He had the mansion rendered “uninhabitable” so to pay significantly less in property taxes. He ended up not paying over $500k he otherwise would have had to have paid (until he got caught and had to pay some of that money back).

The point is that the person who wants to make it more costly for reputable Illinois-based Bitcoin companies like @Strike to do business is also the person who isn’t a fan of paying taxes himself.

https://t.co/Yl9MgWkEOo

[HASHR.Group ☀️ @khughbreslin]

Illinois crypto holders you know what to do.
🫡🙌😎

The last Illinois Gov general election, Nov 8, 2022, J.B. Pritzker defeated Darren Bailey by just 514,653 votes.

IL Coinbase accounts 1,517,628
(Paul Grewal)

Vote Pritzker Out!!!

You are 3x his last margin of victory!!!

[Dave Ripley @DavidLRipley]

whoa, takes some doing to come up with policy this horrendous

someday Illinois SB 3019 will head to the scrap yard

in the interim, Illinoians will be at a disadvantage

@GovPritzker fyi, there are millions of voters in Illinois that own and use crypto

https://t.co/a48tnnzVj8

[Hey Jay @JJeffrey100]

IL just signed a 0.2% tax on crypto transfers/exchanges/storage

On the gross value, not gains. No equivalent for stocks, bonds, or wire transfers.

This is insane. Singling out digital assets for a transaction tax while traditional finance skates free?

Classic IL: punish innovation, drive businesses & talent to TX/FL.

Pritzker's budget priorities at work. Who's getting hit? Everyday users via higher fees on Coinbase, wallets, etc.

Self-custody might help short-term, but this chills adoption.

And it's Constitutionally dubious. Commerce Clause discrimination, no parallel treatment. Time for legal pushback & legislators who understand markets.

IL residents: contact your reps. Crypto community: amplify. We need evidence-based policy, not targeted grabs.

What am I missing? Another FAIL from @GovPritzker

[Grant Wehrli @GrantWehrli]

WTF. Is there ANYTHING that JB Pritzker will not tax??

[miles jennings @milesjennings]

The sole purpose of this tax is to create an anti-tech political spectacle—all the funds collected are being reserved rather than allocated for spending.

Why? Because the law will likely to be struck down in court and refunds will be required.

Illinois residents be damned.

[Daniel Hussey @DanielHusseyJr]

So let me get this straight...

We are going to be taxed for moving our own #crypto?

Imagine if a bank charges you STATE TAXES to transfer money from your Checking to Savings account.

I truly hope this is the straw that breaks his voting bases back...

#GasTaxes #PropertyTaxes #illinoisTollway

EVERY #TAX has GONE UP when he promised "No more #Taxes"

HOW DO YOU HONESTLY VOTE FOR THIS GUY?

[eric @econoar]

So I guess all Illinois crypto people have to move now?

[Walker⚡️ @WalkerAmerica]

Kind reminder that JB Pritzker (net worth $3.7 billion) is the same guy that bought a second multi-million dollar mansion next to his existing one, then had a contractor remove all the toilets / kitchen fixtures so the home could be classified as “uninhabitable” or “vacant” for property tax purposes.

A 2018 Cook County Inspector General report called it a “scheme to defraud” taxpayers. It noted the toilets were removed shortly before affidavits were submitted claiming the property had no functioning bathrooms or kitchen.

The irony of this privileged tax cheat creating a "privilege tax" on Bitcoin is truly incredible.

[Autism Capital 🧩 @AutismCapital]

What the hell is Illinois doing? Why is everyone insane?

[DBCrypto @DBCrypt0]

I live in Illinois

My governor, who I sure as hell didn’t vote for, just signed a tax on every crypto transaction I make

The same Governor that has raised taxes 61x while Illinois has the highest property and state tax in the country

The Digital Asset Tax Act (DATA), buried inside a $56 billion budget bill was added last-minute too

0.2% on every exchange, transfer, or custody activity

Every
single
transaction

The tax hits transactions not gains so you could lose money on a trade and still owe these criminals

The Crypto Council for Innovation called it "the most punitive digital asset tax in the country" and they're right

No state in America taxes stock trades, bond trades, or derivatives this way. Zero.

This only applies to crypto in which these clowns understand zero about

Welcome to the most crypto hostile state in America💀

[mert @mert]

> be human
> wear pants
> have cash in your left pocket
> move it to your right pocket
> bam, that's a 0.2% tax bucko

incredible

[Birdnals @BirdnalsLAW]

I am barred in Illinois.

My primary legal skills are litigation.

This is a blatantly unconstitutional and half-baked. Which Illinois would have known if there was an ounce of industry consultation before throwing this in last minute.

We'll see you in Court, Governor. 🫡

[TFTC @TFTC21]

The Digital Chamber and Illinois Blockchain Association are calling Illinois' new 0.2% crypto tax "substantively unsound, procedurally deficient, and economically destructive."

It was slipped into the state budget overnight with zero stakeholder outreach.