Digital Chamber seeks to block Illinois’ 0.2% Digital Asset Tax before 2027. Lawsuit claims blockchain transactions face unfair and discriminatory taxation. Case challenges the tax under constitutional and federal commerce protections. The Digital Chamber has […]
TLDR The Digital Chamber filed a lawsuit seeking to block Illinois’ incoming crypto transaction tax. Governor JB Pritzker signed the 0.2% digital asset levy into law on June 16. Qualifying businesses would pay tax on […]
Memecoins Sold for Profit: What Tax Rules Apply to Small Coins Memecoins like Dogecoin, Shiba Inu, Pepe, or Bonk can experience significant price fluctuations in a short period. Those who invest early and sell after […]
TLDR CFTC Chair Michael Selig criticized Illinois for approving a 0.2% tax on crypto transactions. Selig said Illinois lawmakers “decided they know better” than federal officials working on crypto rules. The Illinois crypto tax will […]
TLDR House Ways and Means held a digital asset tax hearing on June 9. Seven draft measures were reviewed for U.S. crypto tax reform. H.R. 9178 targets crypto tax paperwork for routine transactions. H.R. 9175 […]
The majority of crypto customers still don’t understand how crypto is taxed, mistakenly believing simple transfers trigger tax events. Related Reading Well intended crypto-tax confusion Although most crypto investors intend to comply with tax law, […]
Ronaldo is an experienced crypto enthusiast dedicated to the nascent and ever-evolving industry. With over five years of extensive research and unwavering dedication, he has cultivated a profound interest in the world of cryptocurrencies. Ronaldo’s […]
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