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Crypto
Illinois to impose crypto transaction tax from 2027 as industry backlash spreads
U.S. state Illinois will impose a 0.2 percent tax on cryptocurrency transactions from 2027. Governor J.B. Pritzker signed the Digital Asset Tax Act as part of the 2027 state budget, with the law set to take effect on Jan. 1, 2027. The tax applies to transfers and purchases of digital assets and can cover activity tied to Illinois as a primary place of use. Industry group CCI criticised the measure and raised concerns over its legislative process.
Crypto
Pressure builds for Clarity Act Senate vote, but prediction markets see August deadline unlikely
The cryptocurrency industry has stepped up public pressure on the U.S. Senate to move the Clarity Act to a floor vote. More than 200 companies and groups urged Senate leaders to act without delay, arguing that a lack of federal rules pushes activity overseas. Opponents have also mobilised, citing weaknesses in anti-money laundering provisions, ethics rules and stablecoin-related gaps. Prediction markets and some institutional forecasts have lowered estimates for passage before August.
Crypto
Crypto industry urges U.S. Senate to vote on CLARITY Act as Coinbase, Ripple join
More than 200 cryptocurrency companies and industry groups, including Coinbase, Ripple, Kraken, Andreessen Horowitz, Circle and Binance.US, urged U.S. Senate leaders to hold a floor vote on the CLARITY Act. The bill passed the Senate Banking Committee on May 14, 15-9, but still needs 60 votes on the Senate floor and further steps. Analysts are divided on passage this year, with debate including stablecoin interest-like rewards.
