Illinois 0.2% Crypto Tax Faces Second Industry Suit
Unlike most state levies on trading gains, Illinois's rule taxes gross value of every covered broker-handled digital asset event.
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Unlike most state levies on trading gains, Illinois's rule taxes gross value of every covered broker-handled digital asset event.
A 60-vote threshold in a 53-47 chamber leaves the bill short by default. The CFTC's parallel fallback plan keeps regulatory momentum alive regardless of how the floor math shakes out.
With three industry groups now aligned against the levy, the suit escalates from a state-budget line item into a precedent fight over digital asset taxation.
The move puts bank-backed safekeeping at the center of institutional Bitcoin adoption and signals that digital-asset custody is becoming core TradFi infrastructure.
The second delay in a year for a tokenization framework Wall Street is already piloting in production, leaving a multitrillion-dollar pipeline on hold while Congress negotiates the Digital Asset…
Record $62.7M subscription, services and other revenue cushioned softer trading, but the large reported loss keeps Bullish's earnings mix and full-year guidance in focus.
A formal rule would be harder to reverse than prior SEC staff guidance, offering crypto firms a more durable framework while Congress remains stalled.
The rollout makes distribution the key signal, folding digital assets into Robinhood's wider UK investing lineup.
The bill would draw the formal SEC-CFTC jurisdictional line for digital assets and resolve years of turf-war ambiguity. The delay keeps that uncertainty in place through Q3.
A floor speech framing the bill as the choice between US oversight and losing the market to Singapore or the UAE, with a bankruptcy-protection argument aimed at skeptical Democrats.
The SEC signaling it's willing to mirror the Clarity Act through rulemaking, rather than wait for legislation, keeps momentum on a unified US crypto framework alive even if Congress stalls.
Tiered capital requirements for new crypto custodians land just days after the EU sanctioned 14 Russia-linked crypto firms, signalling Moscow is choosing regulated rails over offshore exits.
If enacted, the framework opens a legal channel for retail crypto trading under Bank of Russia supervision and could pull volumes out of the offshore venues that currently dominate.
The endorsement from one of Wall Street's top CEOs adds institutional weight to a bill that would split SEC and CFTC oversight of crypto markets and define digital commodity status.
The text bans the president, members of Congress and federal judges from issuing or sponsoring digital assets for profit, but a DOJ-enforcement fight with Democrats is the last hurdle before a 15-day…
The ethics provision sets a tougher standard for federal officeholders as lawmakers shape federal digital-asset legislation.
The amendment closes a loophole the White House did not need to exploit publicly, but locking the bar into statute shifts ethics from policy preference into binding law.
The headline provision is the developer safe harbor, but the ethics clause carrying a 2029 sunset is the political deal that lets the bill actually move.
The backlash targets the Senate's lead Democratic negotiator at a sensitive moment for the bill, which is the legislative vehicle the industry has bet its US market-structure roadmap on.
The benchmark leans on revenue and real-world usage rather than price momentum, placing a S&P-branded stamp on a methodology closer to equity indices than to existing crypto benchmarks.