Illinois Passed the Most Anti-Crypto Law in the US: Miles Jennings

💔 **Criticism of New Tax Law**: Miles Jennings from Andreessen Horowitz labeled Illinois' Digital Asset Privilege Tax Act as "one of the most anti-crypto laws in the US," imposing a 0.2% tax on digital asset transactions without meaningful exemptions.

⚖️ **Unique Burden on Crypto**: Jennings highlighted that Illinois' tax is unprecedented in the US, singling out crypto while no similar taxes exist for stocks or bonds, potentially violating federal laws and pushing users out of the state.

📜 **Call for Federal Standards**: The Crypto Council for Innovation urged Governor Pritzker to veto the law, arguing it could create a confusing patchwork of state regulations and hinder innovation, especially as Congress works on a national crypto tax framework.