Illinois crypto tax signed into law, former IRS digital assets chief Trish Turner calls it an internet tollbooth hitting small brokers.

Illinois Governor Pritzker enacted a 0.2% tax on crypto transactions including personal wallet transfers, deemed the nation's most punitive digital asset tax.

According to @cas_abbe, the United States has passed the GENIUS Act, a groundbreaking federal law specifically targeting stablecoins like $USDC and $USDT. This legislation establishes uniform regulatory standards for stablecoin issuers, introducing mandatory reserve requirements, transparency measures, and regular audits (source: @cas_abbe, June 18, 2025). Traders should closely monitor stablecoin reserves and compliance announcements, as the GENIUS Act could impact liquidity, trading pairs, and arbitrage opportunities across crypto exchanges operating in the U.S. This move may drive volatility in both the stablecoin and broader cryptocurrency markets as platforms and issuers adapt to new rules.

According to Vitalik Buterin, the co-founder of Ethereum, there is a significant overlap between immigration law and cryptocurrency law. This statement suggests that the regulatory frameworks governing immigration may have parallels or implications for the evolving legal landscape of cryptocurrencies.