CryptoNate (https://zora.co/invite/natejay101)

This is America and it’s heartbreaking 💔

what a fucking pussy

JUST IN: 🇮🇱🇺🇸 Israeli National Security Minister Ben Gvir slams US request to cease fighting in Lebanon. "For every tear shed of an Israeli mother, 1000 Lebanese mothers should weep. All of Lebanon should burn." "With all due respect to Americans, Israel must make it clear that the blood of our sons and security of our citizens are not up for grabs."

NEW: Illinois Governor Pritzker has signed a 0.2% tax on crypto transactions into law including transfers between personal wallets, with the Crypto Council for Innovation calling it "the most punitive digital asset tax in the country."

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💀

Illinois Governor Pritzker just signed the most punitive digital asset tax in the country into law. This will create an unprecedented tax regime that disproportionately burdens Illinois residents for simply using digital assets and will drive innovation and builders out of the state. Read CCI’s opposition letter for more.

This is one of the most anti-crypto laws in the U.S. It taxes the exchange, transfer, or storage of digital assets—you buy BTC, you pay a tax; you hold your BTC on Coinbase, you pay a tax; and so on. There is effectively no comparable state financial transaction tax on stocks, bonds, or derivatives anywhere in the country. That means crypto is being singled out in violation of several federal laws. Further, the approach makes little sense—you aren’t taxed if you exchange a stock, bond, or derivative in paper form, but you are taxed if they happen to be recorded on a blockchain? That’s like taxing email. So, rather than embracing innovation and the cost efficiencies blockchains can deliver for ordinary people in Illinois, the state is poised to punish its entrepreneurs and citizens that want to use crypto. This is a shame—it was only just recently that Illinois embraced a constructive approach to blockchain technology through the adoption of the effectively-scoped Digital Assets and Consumer Protection Act. This new tax is a complete 180. When states adopt discriminatory, asset-specific taxes that drive builders and users elsewhere, we all lose.