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This crypto tax measure has prompted accusations from industry advocates of “burying” the rule within a massive budget proposal. The Digital Chamber and Illinois Blockchain Association penned a letter on Wednesday urging the state to reject the Digital Asset Privilege Tax Act, claiming that it would be “economically destructive” and gave the industry no notice of its intentions.

“No other state has imposed a similar tax, and the lack of stakeholder engagement surrounding this proposal raises significant concerns,” said The Digital Chamber in a Thursday X post.

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