Illinois isn’t off the hook yet: the state wants a court to delay its planned 0.2% crypto tax to July 2027 as the legal fight with industry groups escalates. The dispute centers on broad compliance burdens, blockchain-specific treatment, and whether the levy is even lawful.
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Illinois is reportedly weighing draft crypto tax rules that could hit transactions even when no profit is made, sparking backlash from industry groups. The big catch: the proposal still needs confirmation, but if accurate, it could make simply moving crypto a taxable headache.
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The CLARITY Act is still alive, but its path through the Senate is getting jammed up by procedural hurdles and an ethics fight that’s eating the clock. With cloture requiring 60 votes and the calendar tightening fast, supporters may run out of runway this year.
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Senate attention is shifting from crypto hype to practical plumbing: stablecoins and tokenization. The pitch is simple — lower costs, faster settlement, and less friction in payments and asset transfers — but regulatory clarity still stands in the way.
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The CLARITY Act is running into Senate pushback over crypto market rules, anti-trafficking safeguards, and prediction markets. Supporters say it could bring regulatory certainty and attract institutions, while critics warn it may weaken oversight or create new loopholes.
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Elizabeth Warren is taking aim at the OCC’s approval of national trust charters for crypto firms, while The Digital Chamber says the regulator acted within the law and finally gave digital asset businesses a sane path into federal oversight. Warren’s claim: at least nine crypto firms may have received charters they don’t qualify for The […]
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