Unbelievable! Withdrawing to your own wallet could soon cost you money! In one US state, it’s already law.
Illinois is the first US state with a crypto transaction tax. 0.2% of the value you move.
On Oct 30, the last day for comments, Uniswap Labs, a16z and the DeFi Education Fund pushed back hard. They asked Illinois to keep DeFi protocols, front-ends and self-custody withdrawals out of the tax, to stop taxing wallet withdrawals and bridges on asset value, and to drop the private-key records.
Would you pay 0.2% to hold your own keys?
#UniswapA16zSeekDeFiExemptionFromIllinoisCryptoTax
Illinois is the first US state with a crypto transaction tax. 0.2% of the value you move.
On Oct 30, the last day for comments, Uniswap Labs, a16z and the DeFi Education Fund pushed back hard. They asked Illinois to keep DeFi protocols, front-ends and self-custody withdrawals out of the tax, to stop taxing wallet withdrawals and bridges on asset value, and to drop the private-key records.
Would you pay 0.2% to hold your own keys?
#UniswapA16zSeekDeFiExemptionFromIllinoisCryptoTax