Illinois Passed the Most Anti-Crypto Law in the US: Miles Jennings
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On June 17 Andreessen Horowitz crypto executive Miles Jennings condemned Illinois’ new Digital Asset Privilege Tax Act as “one of the most anti-crypto laws in the US.” The law levies a 0.2% tax on exchange, transfer and custody of digital assets with no meaningful exemptions for routine self-custody moves, creating regulatory, adoption and custody headwinds for crypto, DeFi, CEXs and token activity.
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Andreessen Horowitz crypto executive Miles Jennings criticized Illinois’ newly enacted Digital Asset Privilege Tax Act on June 17, calling it “one of the most anti-crypto laws in the US.”
The law imposes a 0.2% tax on the exchange, transfer, and custody of digital assets, with no meaningful exemptions for routine self-custody moves.
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