Truth Teller - very real trust me bro
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Truth Teller - very real trust me bro
@deadend
I am fact checked, and correct.



🚨 ILLINOIS ENACTS MOST AGGRESSIVE BITCOIN TAX IN THE 🇺🇸 US Governor J.B. Pritzker has signed Illinois’ new Digital Asset Tax Act into law. Starting January 1, 2027, Illinois will impose a 0.20% tax on the gross value of digital assets exchanged, transferred, or stored for customers. In practice: • Buy Bitcoin? Pay the tax. • Transfer Bitcoin? Pay the tax. • Store BTC with a custodian? Pay the tax. Move $1 million through a bank wire, ACH transfer, brokerage account, or traditional custodian and Illinois takes nothing. Move that same $1 million as a digital asset and the state takes $2,000. The tax applies regardless of whether there is any profit, income, or capital gain. It is levied simply because a digital asset is being exchanged, transferred, or stored. Critics argue this creates a first-of-its-kind regime that singles out blockchain-based activity while leaving analogous banking, brokerage, custody, and payment services untouched. The law targets the service layer of the digital asset economy. While trading for one’s own account is excluded, businesses facilitating exchange, transfer, or custody for customers must collect and remit the tax, with customers ultimately liable if it is not collected. The Crypto Council for Innovation warned that Illinois is becoming a national outlier by adopting a transaction-based tax on digital assets that has no comparable equivalent for stocks, bonds, derivatives, bank deposits, or traditional financial transactions anywhere else in the country. Industry groups say the law is a powerful incentive for entrepreneurs, startups, and investment to leave Illinois for more competitive jurisdictions. Perhaps most surprising is the timing. Illinois only recently adopted the Digital Assets and Consumer Protection Act (DACPA), a framework many viewed as a constructive approach to blockchain innovation. This new tax represents a sharp reversal. The question now is whether other states follow Illinois’ lead, or whether this becomes a case study in how to drive an emerging industry elsewhere.



Published an op ed in @nytimes: remote work hurts mental health. Let me explain why 🧵⤵️








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.


Democratic Senator Chuck Schumer warns that if the SAVE ACT passes, it would strip millions of people of their voting rights.



Asmongold gives his BASED opinion, says: "You're not being oppressed by the top 2% of society. You're being oppressed by the bottom 2% of society instead 👀 "People ain't gunna like this one: the bottom 2% of society have caused all of the manifest problems in your lives”


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."


The revised proposed Chicago 'teen takeover' accountability ordinance includes a financial penalty for parents. abc7chicago.com/post/chicago-c…



Asmongold gives his BASED opinion, says: "You're not being oppressed by the top 2% of society. You're being oppressed by the bottom 2% of society instead 👀 "People ain't gunna like this one: the bottom 2% of society have caused all of the manifest problems in your lives”








