JUST IN: 🇺🇸 The US state of Illinois will start taxing crypto transfers in 2027
0.2% tax on digital asset activity
getting taxed for:
> moving crypto
> storing crypto
profit or loss does not matter
such a bearish move...
🚨HUGE: ILLINOIS WILL TAX YOU 0.2% JUST FOR RECEIVING CRYPTO
Starting January 1, 2027, Illinois will tax ALL crypto purchases, transfers, and receipts.
The Crypto Council for Innovation says Illinois could become the ONLY U.S. state taxing customers simply for receiving crypto services.
BREAKING: Illinois just passed a law that taxes you every time you buy, sell it or move your crypto.
The governor of Illinois signed a law that will impose a 0.2% tax on use of digital asset services, including exchange, transfer between wallets or custody activities.
The tax applies to firms based in Illinois, as well as any provider generating $100,000 or more annually from Illinois-based users, regardless of physical location.
A company processes a customer's $10,000 Bitcoin purchase, transfer and sale, resulting in $60 in taxes - even if the customer made no profit - because the tax is based on transaction value, not gains.
Illinois Governor J.B. Pritzker signed the Digital Asset Tax Act as part of the state’s 2027 budget.
The law takes effect on January 1, 2027, with projected annual revenue of approximately $60 million.
The crypto industry is pushing back, with the Crypto Council for Innovation calling it “the most punitive digital asset tax in the country,” and Michael Saylor calling it a “big mistake.”
Options are limited since Illinois is out of session for the year, so any policy change would require a special or future legislative session.
Adam Schiff released a video fantasizing about what “we” could pay for “by the wealth of our first trillionaire."
"$1 trillion, if we decided to distribute that equally among American households, your household would get $7,500..."
Sounds downright utopian, Adam.
Aldermen proposed ordinances Wednesday to rename Northerly Island after Pope Leo XIV and marking part of Wabash Avenue — the strip in front of Trump Tower — “Barack Hussein Obama Way.” chicagotribune.com/2026/06/17/pop…
NEW: DOJ says an exec @ Southern Poverty Law Center deposited donor $ into personal bank accounts - while millions were used to fund extremist groups, including neo-Nazis & KKK members.
SLC denies the allegations.
@AmericaRpts
Esse barquinho de metal com formato bizarro se chama log bronc. Ele foi projetado especificamente para guiar troncos gigantes em rios e serrarias. Ele é praticamente indestrutível e consegue girar 360 graus no próprio eixo para empurrar toneladas de madeira sem virar.
Joe Rogan: "It’s not a coincidence that the riots break out in the exact same place where all this fraud is being exposed. ICE is everywhere [but] the most violent interactions... are happening where the most fraud has been publicly exposed."
Kevin Warsh just ended his first ever FOMC meeting as Fed chair.
His message to markets: "I can't give you any guidance on what we're going to do next."
Here is what he said:
1. Inflation is still way above the Fed's 2% target and prices are too high for most people
2. "We will fix five years of misses on inflation", he is directly saying the previous Fed failed
3. The Fed will no longer tell you in advance what it plans to do with interest rates
4. He watches stock market prices more than anything else when making decisions
5. Interest rates are hurting the housing market but are not slowing down financial markets
6. All 19 members at the table agreed not to raise rates today
7. The 2% inflation target is not changing
8. He refused to say whether bond yields rising after today's decision concerns him
9. He refused to say whether he has spoken to Trump since becoming Fed chair
Under Powell, the Fed always told markets what was coming next. Under Warsh, that is gone.
BREAKING: New poll reveals that only 30% of Minnesotans approve of the state's new flag design, which suspiciously resembles the Somalian Flags.
Source: Minnesota Star Tribune