Vijay2909

#UniswapA16zSeekDeFiExemptionFromIllinoisCryptoTax 🏛️ Uniswap and a16z Push Back on Illinois' 0.2% Crypto Tax 📊 Illinois' Digital Asset Tax Act charges 0.2% of the value of taxable crypto trades, transfers and storage, gains or not. 📅 A court-approved delay moved the start from Jan 1 to July 1, 2027. Lawsuits challenging the law are still pending. 📝 Uniswap, a16z and the DeFi Education Fund weighed in as comments on the draft rules closed Oct 30. ⚠️ The draft exempts DEX swaps when fees go only to liquidity providers or validators, but treats protocol fees as taxable. 🔁 The groups want wallet withdrawals and cross-chain bridging left out of the value-based tax, and the private-key recordkeeping rule dropped. What it means for crypto: how Illinois defines a "broker" could become a template for other states taxing DeFi. Should DeFi protocols that charge a fee be taxed like exchanges? 👇 $UNI $ETH #CryptoNews #DeFi #CryptoTax #UniswapA16zSeekDeFiExemptionFromIllinoisCryptoTax